Tokio Marine Asset Management Co. Ltd. Sells 1,068 Shares of PACCAR Inc. (PCAR)
Tokio Marine Asset Management Co. Ltd. decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 24.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,220 shares of the company’s stock after selling 1,068 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in PACCAR were worth $233,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of PCAR. IFP Advisors Inc boosted its position in PACCAR by 91.1% during the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after purchasing an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of PACCAR by 18.8% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after purchasing an additional 300 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after purchasing an additional 500 shares during the last quarter. Perkins Coie Trust Co raised its stake in shares of PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after purchasing an additional 1,157 shares during the last quarter. Finally, Sun Life Financial INC raised its position in PACCAR by 19,884.6% during the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after acquiring an additional 2,585 shares in the last quarter. 62.38% of the stock is currently owned by institutional investors.
Shares of PACCAR Inc. (NASDAQ PCAR) opened at $71.32 on Monday. The stock has a market capitalization of $25,076.84, a PE ratio of 18.29, a PEG ratio of 1.71 and a beta of 1.24. PACCAR Inc. has a 52-week low of $53.38 and a 52-week high of $75.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 1.17.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.06. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. PACCAR’s quarterly revenue was up 19.7% compared to the same quarter last year. research analysts predict that PACCAR Inc. will post 4.18 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.40%. PACCAR’s payout ratio is 25.64%.
In other PACCAR news, VP Alma Lily Ley sold 4,024 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total value of $285,704.00. Following the transaction, the vice president now owns 24,319 shares of the company’s stock, valued at $1,726,649. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.64% of the stock is owned by insiders.
Several brokerages have commented on PCAR. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Tuesday, September 5th. Buckingham Research began coverage on PACCAR in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 price target on the stock. ValuEngine raised PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Citigroup Inc. boosted their price objective on PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of PACCAR in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.95.
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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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