PACCAR Inc. $PCAR Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,096,158 shares of the company’s stock after acquiring an additional 52,536 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of PACCAR worth $107,774,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fidelis Capital Partners LLC raised its holdings in shares of PACCAR by 2.9% during the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock worth $366,000 after purchasing an additional 105 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of PACCAR by 3.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock valued at $358,000 after buying an additional 108 shares during the last quarter. Intellectus Partners LLC raised its stake in shares of PACCAR by 1.0% during the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock valued at $1,015,000 after buying an additional 109 shares during the last quarter. Matrix Trust Co lifted its holdings in shares of PACCAR by 3.9% in the 3rd quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock valued at $290,000 after buying an additional 110 shares during the period. Finally, Forbes J M & Co. LLP boosted its stake in shares of PACCAR by 4.3% in the third quarter. Forbes J M & Co. LLP now owns 2,664 shares of the company’s stock worth $262,000 after buying an additional 111 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Citigroup lifted their target price on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Truist Financial increased their price target on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th. Finally, Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $116.50.

PACCAR Stock Performance

NASDAQ:PCAR opened at $124.08 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The company has a fifty day moving average of $120.66 and a two-hundred day moving average of $107.51. The stock has a market capitalization of $65.25 billion, a PE ratio of 27.51, a P/E/G ratio of 1.04 and a beta of 1.03. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.66 earnings per share. As a group, research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, February 11th. PACCAR’s payout ratio is presently 29.27%.

Insider Activity at PACCAR

In other news, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the sale, the executive vice president directly owned 12,592 shares of the company’s stock, valued at $1,593,265.76. The trade was a 43.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the transaction, the chief financial officer directly owned 903 shares of the company’s stock, valued at approximately $117,760.23. This represents a 70.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 133,105 shares of company stock worth $16,869,046 in the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.