Nomura Asset Management Co. Ltd. Increases Stock Position in PACCAR Inc (NASDAQ:PCAR)

by · The Markets Daily

Nomura Asset Management Co. Ltd. lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR – Free Report) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 152,264 shares of the company’s stock after acquiring an additional 4,414 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in PACCAR were worth $12,945,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PCAR. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of PACCAR by 98,391.3% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,154,411 shares of the company’s stock worth $598,467,000 after buying an additional 7,147,147 shares in the last quarter. State Street Corp lifted its position in shares of PACCAR by 49.0% during the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock worth $1,562,477,000 after purchasing an additional 7,020,923 shares during the last quarter. Geode Capital Management LLC grew its stake in PACCAR by 53.3% in the first quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock worth $858,948,000 after purchasing an additional 4,082,677 shares in the last quarter. Norges Bank bought a new stake in PACCAR in the fourth quarter valued at about $323,885,000. Finally, Wellington Management Group LLP increased its stake in PACCAR by 249.2% during the first quarter. Wellington Management Group LLP now owns 3,845,387 shares of the company’s stock valued at $338,663,000 after purchasing an additional 2,744,040 shares during the last quarter. Hedge funds and other institutional investors own 65.68% of the company’s stock.

PACCAR Price Performance

Shares of PACCAR stock traded down $0.25 during trading on Friday, reaching $101.76. 2,056,173 shares of the company’s stock were exchanged, compared to its average volume of 2,642,335. The firm’s 50-day moving average price is $95.27 and its 200 day moving average price is $88.78. The company has a market cap of $53.23 billion, a P/E ratio of 11.63, a PEG ratio of 1.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 1.49. PACCAR Inc has a 1-year low of $67.48 and a 1-year high of $103.40.

PACCAR (NASDAQ:PCAR – Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the previous year, the company posted $1.76 EPS. The business’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that PACCAR Inc will post 7.77 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a None dividend, which will be paid on Wednesday, March 6th. Investors of record on Wednesday, February 15th will be issued a $3.20 dividend. This is an increase from PACCAR’s previous None dividend of $0.89. The ex-dividend date of this dividend is Wednesday, February 14th. PACCAR’s payout ratio is 12.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised PACCAR from a “hold” rating to a “buy” rating and lifted their target price for the stock from $94.00 to $115.00 in a report on Wednesday, October 25th. 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 price objective for the company. StockNews.com assumed coverage on shares of PACCAR in a report on Thursday, October 5th. They set a “buy” rating for the company. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and an average price target of $103.32.

Check Out Our Latest Research Report on PCAR

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 1,996 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $86.58, for a total transaction of $172,813.68. Following the completion of the transaction, the vice president now owns 3,230 shares of the company’s stock, valued at $279,653.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 23,221 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $86.28, for a total value of $2,003,507.88. Following the sale, the chief financial officer now owns 93,522 shares of the company’s stock, valued at approximately $8,069,078.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 1,996 shares of PACCAR stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $86.58, for a total transaction of $172,813.68. Following the completion of the sale, the vice president now owns 3,230 shares in the company, valued at approximately $279,653.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,221 shares of company stock valued at $2,426,915. 2.06% of the stock is owned by company insiders.

PACCAR Company Profile

(Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

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