PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 8.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 175,826 shares of the company’s stock after acquiring an additional 13,716 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in PACCAR were worth $17,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PCAR. Quarry LP acquired a new stake in PACCAR in the second quarter worth about $26,000. Meeder Asset Management Inc. lifted its stake in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR in the second quarter valued at approximately $36,000. ORG Partners LLC increased its stake in shares of PACCAR by 7,560.0% during the second quarter. ORG Partners LLC now owns 383 shares of the company’s stock valued at $39,000 after acquiring an additional 378 shares during the period. Finally, Grove Bank & Trust increased its stake in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCAR. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Citigroup upped their price target on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Monday. Finally, Truist Financial boosted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PACCAR has an average rating of “Hold” and an average price target of $118.25.

PACCAR Stock Performance

Shares of PCAR stock opened at $115.37 on Wednesday. The company has a market capitalization of $60.49 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.82 and a beta of 0.91. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $109.82 and its 200-day simple moving average is $103.70.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 EPS. On average, sell-side analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.