Daiwa Securities Group Inc. Buys 10,570 Shares of PACCAR Inc (NASDAQ:PCAR)

Daiwa Securities Group Inc. boosted its position in PACCAR Inc (NASDAQ:PCAR) by 11.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,145 shares of the company’s stock after purchasing an additional 10,570 shares during the quarter. Daiwa Securities Group Inc.’s holdings in PACCAR were worth $9,784,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PCAR. Quarry LP bought a new position in shares of PACCAR during the 2nd quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new position in PACCAR in the first quarter worth $27,000. Meeder Asset Management Inc. increased its position in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PACCAR during the 2nd quarter valued at $36,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

NASDAQ:PCAR opened at $116.54 on Tuesday. The firm’s fifty day moving average is $106.19 and its two-hundred day moving average is $103.05. The firm has a market cap of $61.10 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

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

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PCAR shares. Truist Financial boosted their target price on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Finally, BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $117.64.

Insider Buying and Selling

In other 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 transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. Corporate insiders own 2.02% of the company’s stock.

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.