Mufg Securities Americas Inc. Takes Position in PACCAR Inc (NASDAQ:PCAR)

Mufg Securities Americas Inc. bought a new position in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, HoldingsChannel reports. The fund bought 7,741 shares of the company’s stock, valued at approximately $805,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after acquiring an additional 3,364,650 shares during the period. Geode Capital Management LLC increased its position in PACCAR by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock valued at $1,275,269,000 after acquiring an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of PACCAR by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares in the last quarter. FMR LLC lifted its holdings in PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company’s stock worth $914,509,000 after purchasing an additional 167,165 shares during the period. Finally, Northern Trust Corp lifted its holdings in PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock worth $749,189,000 after purchasing an additional 565,967 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, the director now directly owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This represents a 62.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $94.65 on Thursday. The company has a 50 day simple moving average of $93.79 and a 200-day simple moving average of $104.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market capitalization of $49.69 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period last year, the company posted $2.27 earnings per share. The company’s revenue was down 16.0% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.39%. PACCAR’s dividend payout ratio is currently 20.00%.

Analyst Upgrades and Downgrades

PCAR has been the subject of several research analyst reports. Truist Financial reduced their price objective on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Citigroup cut their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and cut their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $105.23.

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.