Meiji Yasuda Asset Management Co Ltd. Takes $1.41 Million Position in PACCAR Inc. $PCAR

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,730 shares of the company’s stock, valued at approximately $1,409,000.

A number of other hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth lifted its holdings in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after buying an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after buying an additional 5,327 shares during the last quarter. Ieq Capital LLC grew its position in shares of PACCAR by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after acquiring an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of PACCAR in the 2nd quarter valued at approximately $81,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on PCAR shares. Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. Citigroup increased their target price on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Wells Fargo & Company lifted their price target on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, PACCAR has an average rating of “Hold” and an average target price of $131.70.

Insiders Place Their Bets

In other PACCAR news, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the transaction, the chief executive officer owned 268,625 shares of the company’s stock, valued at $35,745,928.75. This trade represents a 15.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 56,842 shares of company stock valued at $7,565,677. 1.99% of the stock is owned by corporate insiders.

PACCAR Stock Down 0.8%

PCAR stock opened at $129.94 on Tuesday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $126.66 and its 200 day simple moving average is $121.89. The stock has a market cap of $68.40 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. PACCAR’s quarterly revenue was up .5% on a year-over-year basis. As a group, sell-side analysts predict that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s payout ratio is currently 29.41%.

PACCAR 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.