Mitsubishi UFJ Trust & Banking Corp Trims Stake in PACCAR Inc. (PCAR)
Mitsubishi UFJ Trust & Banking Corp trimmed its position in PACCAR Inc. (NASDAQ:PCAR) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 703,909 shares of the company’s stock after selling 10,471 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.20% of PACCAR worth $50,921,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Davis Selected Advisers increased its holdings in shares of PACCAR by 0.4% in the second quarter. Davis Selected Advisers now owns 3,144 shares of the company’s stock worth $208,000 after purchasing an additional 12 shares during the last quarter. Conning Inc. increased its holdings in shares of PACCAR by 0.4% in the second quarter. Conning Inc. now owns 10,691 shares of the company’s stock worth $706,000 after purchasing an additional 39 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of PACCAR by 1.2% in the second quarter. Teacher Retirement System of Texas now owns 3,742 shares of the company’s stock worth $247,000 after purchasing an additional 46 shares during the last quarter. Atlantic Trust Group LLC increased its holdings in shares of PACCAR by 0.6% in the second quarter. Atlantic Trust Group LLC now owns 12,279 shares of the company’s stock worth $810,000 after purchasing an additional 68 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of PACCAR by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,098 shares of the company’s stock worth $1,724,000 after purchasing an additional 69 shares during the last quarter. 62.35% of the stock is currently owned by hedge funds and other institutional investors.
In other PACCAR news, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $69.02, for a total transaction of $249,714.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alma Lily Ley sold 4,024 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total value of $285,704.00. Following the transaction, the vice president now owns 24,319 shares of the company’s stock, valued at approximately $1,726,649. The disclosure for this sale can be found here. Insiders have sold 106,598 shares of company stock valued at $7,597,908 in the last 90 days. Company insiders own 2.64% of the company’s stock.
Several brokerages have recently issued reports on PCAR. Wells Fargo & Company lifted their target price on PACCAR from $74.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, October 6th. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 target price on shares of PACCAR in a report on Friday, October 20th. J P Morgan Chase & Co raised PACCAR from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $83.00 in a report on Wednesday, October 4th. Deutsche Bank reiterated a “hold” rating and issued a $78.00 price target (up previously from $75.00) on shares of PACCAR in a research report on Monday, October 9th. Finally, ValuEngine lowered PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $75.60.
PACCAR Inc. (PCAR) opened at $69.65 on Friday. PACCAR Inc. has a 12-month low of $61.93 and a 12-month high of $75.68. The stock has a market capitalization of $24,728.75, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.68 and a beta of 1.23. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. equities research analysts forecast that PACCAR Inc. will post 4.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. PACCAR’s dividend payout ratio (DPR) is presently 25.64%.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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