Mirae Asset Global Investments Co. Ltd. Sells 11,202 Shares of PACCAR Inc (NASDAQ:PCAR)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 6.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 154,308 shares of the company’s stock after selling 11,202 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in PACCAR were worth $16,119,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Madrona Financial Services LLC grew its stake in PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after purchasing an additional 91 shares during the period. CVA Family Office LLC grew its position in shares of PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after buying an additional 97 shares during the period. Global Financial Private Client LLC increased its stake in shares of PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares in the last quarter. Omnia Family Wealth LLC raised its stake in PACCAR by 2.5% during the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after buying an additional 98 shares during the last quarter. Finally, Grove Bank & Trust raised its position in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup decreased their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.95.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,871 shares of company stock worth $14,586,333 over the last 90 days. 2.02% of the stock is owned by insiders.

PACCAR Trading Down 1.4 %

Shares of PACCAR stock opened at $106.99 on Thursday. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $110.07 and a 200-day moving average price of $104.53. The firm has a market cap of $56.09 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 2.87 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities research analysts anticipate that PACCAR Inc will post 7.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 15.17%.

PACCAR Company 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.