Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR – Get Rating) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,091,710 shares of the company’s stock after acquiring an additional 65,873 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of PACCAR worth $108,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of PCAR. Prudential PLC bought a new stake in PACCAR during the first quarter valued at about $763,000. Vanguard Group Inc. grew its stake in shares of PACCAR by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after acquiring an additional 698,784 shares during the period. Candriam Luxembourg S.C.A. increased its holdings in PACCAR by 66.0% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock worth $6,046,000 after acquiring an additional 27,300 shares in the last quarter. Covestor Ltd raised its stake in PACCAR by 73.6% during the 1st quarter. Covestor Ltd now owns 2,118 shares of the company’s stock worth $187,000 after acquiring an additional 898 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in PACCAR by 0.7% during the first quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock valued at $9,399,000 after purchasing an additional 792 shares in the last quarter. 63.92% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR Trading Up 1.6 %
Shares of PCAR opened at $72.72 on Friday. The stock has a market capitalization of $38.00 billion, a PE ratio of 12.63, a P/E/G ratio of 1.10 and a beta of 0.91. The company’s fifty day moving average is $63.07 and its 200 day moving average is $53.28. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.29 and a current ratio of 2.51. PACCAR Inc has a fifty-two week low of $51.33 and a fifty-two week high of $76.71.
Wall Street Analyst Weigh In
Several brokerages have recently commented on PCAR. OTR Global downgraded shares of PACCAR to a “positive” rating in a research report on Wednesday. Bank of America boosted their price objective on PACCAR from $61.33 to $72.00 in a research report on Sunday, January 29th. BMO Capital Markets increased their target price on PACCAR from $60.00 to $66.67 and gave the stock a “market perform” rating in a research report on Wednesday, February 1st. Credit Suisse Group cut PACCAR from an “outperform” rating to a “neutral” rating in a report on Thursday, January 12th. Finally, Morgan Stanley cut their price objective on shares of PACCAR to $64.89 and set an “overweight” rating for the company in a report on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.42.
Insiders Place Their Bets
In other news, VP Todd R. Hubbard sold 3,300 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $74.67, for a total value of $246,400.00. Following the completion of the sale, the vice president now directly owns 4,773 shares of the company’s stock, valued at approximately $356,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, Chairman Mark C. Pigott sold 106,405 shares of the business’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $72.64, for a total transaction of $7,729,259.20. Following the completion of the transaction, the chairman now owns 4,789,197 shares in the company, valued at $347,887,270.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,300 shares of the company’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $74.67, for a total value of $246,400.00. Following the completion of the transaction, the vice president now directly owns 4,773 shares in the company, valued at approximately $356,384. The disclosure for this sale can be found here. Insiders have sold 157,012 shares of company stock valued at $11,461,239 over the last ninety days. 2.06% of the stock is owned by insiders.
About PACCAR
PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.
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