Tokio Marine Asset Management Co. Ltd. Grows Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Tokio Marine Asset Management Co. Ltd. lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,794 shares of the company’s stock after buying an additional 1,121 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in PACCAR were worth $1,249,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PCAR. DAVENPORT & Co LLC bought a new stake in PACCAR during the 3rd quarter valued at approximately $245,000. Meridian Wealth Management LLC boosted its position in PACCAR by 101.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,668 shares of the company’s stock valued at $567,000 after acquiring an additional 3,361 shares in the last quarter. Czech National Bank boosted its position in PACCAR by 47.7% during the 3rd quarter. Czech National Bank now owns 91,398 shares of the company’s stock valued at $7,771,000 after acquiring an additional 29,536 shares in the last quarter. Ballentine Partners LLC boosted its position in PACCAR by 15.1% during the 3rd quarter. Ballentine Partners LLC now owns 4,940 shares of the company’s stock valued at $420,000 after acquiring an additional 648 shares in the last quarter. Finally, Uncommon Cents Investing LLC boosted its position in PACCAR by 31.3% during the 3rd quarter. Uncommon Cents Investing LLC now owns 7,521 shares of the company’s stock valued at $639,000 after acquiring an additional 1,795 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Morgan Stanley started coverage on shares of PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price on the stock. Evercore ISI lifted their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, TD Cowen raised their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.82.

PACCAR Price Performance

PCAR traded down $0.37 on Friday, reaching $112.25. 446,516 shares of the company’s stock were exchanged, compared to its average volume of 2,303,050. The stock has a market cap of $58.82 billion, a PE ratio of 12.84, a P/E/G ratio of 1.71 and a beta of 0.92. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50. The stock’s fifty day moving average price is $116.49 and its 200-day moving average price is $101.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 EPS. Sell-side analysts expect that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. PACCAR’s payout ratio is 12.31%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO R Preston Feight sold 27,320 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the transaction, the chief executive officer now owns 145,495 shares in the company, valued at approximately $15,010,719.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark C. Pigott sold 74,347 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,293 shares of company stock valued at $14,581,337. Insiders own 2.02% of the company’s stock.

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.