Sompo Asset Management Co. Ltd. Acquires 380 Shares of PACCAR Inc (NASDAQ:PCAR)

Sompo Asset Management Co. Ltd. boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,480 shares of the company’s stock after buying an additional 380 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in PACCAR were worth $541,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PCAR. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR in the 1st quarter valued at $27,000. Quarry LP purchased a new stake in shares of PACCAR during the second quarter valued at about $26,000. Meeder Asset Management Inc. boosted its holdings in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR in the 2nd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC raised its stake in shares of PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after acquiring an additional 244 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 0.6 %

Shares of PCAR opened at $114.75 on Monday. The stock has a 50 day moving average price of $105.77 and a 200 day moving average price of $102.99. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock has a market capitalization of $60.16 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.80 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 earnings per share. Equities research analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PCAR shares. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Morgan Stanley reduced their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup upped their price objective on shares of PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.64.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 in the last ninety days. Insiders own 2.02% of the company’s stock.

PACCAR Company 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.