Meiji Yasuda Asset Management Co Ltd. Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 106.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,893 shares of the company’s stock after acquiring an additional 9,227 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in PACCAR were worth $1,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in PACCAR during the fourth quarter worth $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR in the 4th quarter worth about $37,000. OFI Invest Asset Management acquired a new position in shares of PACCAR in the 4th quarter valued at about $43,000. Atala Financial Inc acquired a new position in shares of PACCAR in the 4th quarter valued at about $43,000. Finally, Regents Gate Capital LLP bought a new stake in shares of PACCAR during the 4th quarter valued at about $44,000. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.3 %

Shares of NASDAQ PCAR opened at $99.53 on Thursday. The business has a fifty day simple moving average of $105.68 and a 200-day simple moving average of $106.60. The company has a market cap of $52.25 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.33%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s payout ratio is presently 16.69%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research reports. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Truist Financial upped their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th. Finally, Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus target price of $118.38.

About PACCAR

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.