Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 7,236 Shares of PACCAR Inc. (PCAR)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,445 shares of the company’s stock after selling 7,236 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in PACCAR were worth $3,331,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. Janney Montgomery Scott LLC raised its position in PACCAR by 39.1% in the first quarter. Janney Montgomery Scott LLC now owns 14,047 shares of the company’s stock worth $944,000 after buying an additional 3,951 shares in the last quarter. Mycio Wealth Partners LLC raised its position in PACCAR by 5.8% in the first quarter. Mycio Wealth Partners LLC now owns 23,589 shares of the company’s stock worth $1,585,000 after buying an additional 1,296 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in PACCAR by 7.6% in the first quarter. Glen Harbor Capital Management LLC now owns 9,072 shares of the company’s stock worth $610,000 after buying an additional 644 shares in the last quarter. Headinvest LLC acquired a new position in PACCAR during the first quarter worth $1,382,000. Finally, Korea Investment CORP raised its position in PACCAR by 74,186.2% in the first quarter. Korea Investment CORP now owns 307,545 shares of the company’s stock worth $20,667,000 after buying an additional 307,131 shares in the last quarter. Institutional investors and hedge funds own 61.31% of the company’s stock.
Shares of PACCAR Inc. (PCAR) opened at 64.81 on Friday. The stock’s 50 day moving average is $67.26 and its 200-day moving average is $66.54. PACCAR Inc. has a 12-month low of $53.38 and a 12-month high of $70.32. The company has a market capitalization of $22.77 billion, a P/E ratio of 17.35 and a beta of 1.14.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. PACCAR’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.06 earnings per share. Analysts anticipate that PACCAR Inc. will post $4.00 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.54%. PACCAR’s payout ratio is 26.74%.
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A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and set a $72.00 price target (up from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Citigroup Inc. boosted their price target on shares of PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. UBS AG restated a “buy” rating and set a $76.00 price target (up from $75.00) on shares of PACCAR in a research report on Wednesday, July 26th. Finally, Zacks Investment Research upgraded shares of PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $72.00.
In related news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.64% of the company’s stock.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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