Sumitomo Mitsui Trust Holdings Inc. Has $144.13 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,476,024 shares of the company’s stock after selling 12,468 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of PACCAR worth $144,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. OFI Invest Asset Management purchased a new stake in PACCAR in the 3rd quarter valued at $26,000. AdvisorNet Financial Inc boosted its holdings in PACCAR by 188.5% during 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 last quarter. ST Germain D J Co. Inc. grew its position in PACCAR by 61.9% in the 3rd 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 in the last quarter. Arlington Trust Co LLC purchased a new stake in PACCAR in the 3rd quarter valued at about $30,000. Finally, Achmea Investment Management B.V. bought a new position in shares of PACCAR during the 1st quarter worth approximately $33,000. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PCAR shares. Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. The Goldman Sachs Group increased their price objective on PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Truist Financial started coverage on PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 price target on the stock. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Finally, UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $104.00 to $136.00 in a report on Friday, March 15th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.75.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark C. Pigott sold 74,347 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,496 shares of company stock worth $15,834,812. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.1 %

Shares of PCAR opened at $118.02 on Tuesday. The stock has a market capitalization of $61.84 billion, a P/E ratio of 13.46, a PEG ratio of 1.79 and a beta of 0.92. The firm has a fifty day simple moving average of $115.22 and a two-hundred day simple moving average of $100.23. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 earnings per share. On average, research analysts anticipate that PACCAR Inc will post 8.16 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.92%. PACCAR’s payout ratio is 12.31%.

About PACCAR

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.