Daiichi Life Insurance Co. Ltd. Takes $2.24 Million Position in PACCAR Inc. $PCAR

Daiichi Life Insurance Co. Ltd. bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the second quarter, Holdings Channel reports. The institutional investor bought 18,623 shares of the company’s stock, valued at approximately $2,237,000.

Several other institutional investors have also recently added to or reduced their stakes in PCAR. Paladin Partners LLC bought a new position in shares of PACCAR in the second quarter valued at approximately $27,000. Ares Financial Consulting LLC bought a new stake in PACCAR during the 4th quarter worth approximately $27,000. Steph & Co. bought a new stake in PACCAR during the 1st quarter worth approximately $29,000. MCF Advisors LLC grew its position in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in PACCAR during the 4th quarter valued at $30,000. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

NASDAQ:PCAR opened at $131.03 on Monday. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $68.97 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.03 and a beta of 0.97. The stock’s fifty day simple moving average is $126.48 and its 200-day simple moving average is $121.88.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the company earned $1.37 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts expect that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PCAR. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Citigroup increased their price objective on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Morgan Stanley set a $119.00 target price on shares of PACCAR in a research note on Wednesday, July 29th. Wells Fargo & Company upped their target price on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $131.70.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 50,975 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares in the company, valued at approximately $35,745,928.75. This represents a 15.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. This represents a 43.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 56,842 shares of company stock valued at $7,565,677. Insiders own 1.99% of the company’s stock.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.