MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Position in PACCAR Inc (NASDAQ:PCAR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,778 shares of the company’s stock after purchasing an additional 25,493 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of PACCAR worth $41,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Moore Capital Management LP bought a new position in shares of PACCAR during the fourth quarter valued at approximately $8,863,000. LMR Partners LLP bought a new position in shares of PACCAR during the fourth quarter valued at approximately $2,962,000. Janus Henderson Group PLC grew its stake in shares of PACCAR by 1.8% during the fourth quarter. Janus Henderson Group PLC now owns 66,713 shares of the company’s stock valued at $6,938,000 after buying an additional 1,202 shares during the last quarter. Focus Partners Wealth grew its stake in shares of PACCAR by 11.8% during the fourth quarter. Focus Partners Wealth now owns 11,792 shares of the company’s stock valued at $1,227,000 after buying an additional 1,240 shares during the last quarter. Finally, Ellevest Inc. bought a new position in shares of PACCAR during the fourth quarter valued at approximately $209,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PCAR shares. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Melius Research set a $120.00 price objective on PACCAR in a research note on Tuesday, March 18th. UBS Group cut PACCAR from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, Royal Bank of Canada dropped their price objective on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average target price of $105.23.

PACCAR Stock Up 0.5%

Shares of NASDAQ PCAR opened at $96.26 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $50.53 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The stock’s fifty day simple moving average is $94.10 and its two-hundred day simple moving average is $104.08. PACCAR Inc has a 12-month low of $84.65 and a 12-month high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data 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). The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.27 EPS. As a group, analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.37%. PACCAR’s payout ratio is 20.00%.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32% decrease in their position. The disclosure for this sale can be found here. 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.