PACCAR Inc (NASDAQ:PCAR) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,338 shares of the company’s stock after selling 882 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in PACCAR were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in PACCAR in the third quarter worth $26,000. AdvisorNet Financial Inc boosted its holdings in PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. ST Germain D J Co. Inc. boosted its holdings in PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the period. Arlington Trust Co LLC acquired a new position in PACCAR in the third quarter worth $30,000. Finally, Achmea Investment Management B.V. acquired a new position in PACCAR in the first quarter worth $33,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $118.16 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The firm has a market capitalization of $61.92 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.79 and a beta of 0.92. The stock has a fifty day moving average price of $114.94 and a two-hundred day moving average price of $100.01.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. PACCAR’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.76 EPS. As a group, analysts anticipate that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is 12.31%.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock valued at $15,834,812 in the last 90 days. 2.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday. TD Cowen boosted their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Royal Bank of Canada began coverage on shares of PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Evercore ISI boosted their price target on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, 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, January 24th. Eight 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $109.75.

PACCAR Profile

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