Meiji Yasuda Asset Management Co Ltd. Grows Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Meiji Yasuda Asset Management Co Ltd. raised its stake in PACCAR Inc (NASDAQ:PCAR) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,893 shares of the company’s stock after buying an additional 531 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in PACCAR were worth $915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after buying an additional 27,963 shares during the period. BDF Gestion purchased a new stake in PACCAR in the 2nd quarter valued at about $2,862,000. California State Teachers Retirement System boosted its position in PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after buying an additional 9,978 shares during the period. Advisory Services Network LLC lifted its position in shares of PACCAR by 15.9% in the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after purchasing an additional 7,678 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of PACCAR by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after purchasing an additional 105,109 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Evercore ISI lowered their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Raymond James started coverage on shares of PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup decreased their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR presently has an average rating of “Hold” and an average price target of $112.73.

PACCAR Trading Up 3.3 %

Shares of PACCAR stock opened at $99.52 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The firm has a market capitalization of $52.17 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.47 and a beta of 0.91. The firm’s 50 day simple moving average is $97.04 and its two-hundred day simple moving average is $106.30.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 EPS. Analysts predict that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. PACCAR’s payout ratio is currently 12.45%.

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.