Sumitomo Mitsui Trust Group Inc. Has $136.11 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 0.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,308,529 shares of the company’s stock after acquiring an additional 3,722 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of PACCAR worth $136,113,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PCAR. GHP Investment Advisors Inc. grew its holdings in PACCAR by 7.7% during the fourth quarter. GHP Investment Advisors Inc. now owns 61,741 shares of the company’s stock valued at $6,422,000 after purchasing an additional 4,390 shares during the last quarter. E. Ohman J or Asset Management AB boosted its holdings in shares of PACCAR by 234.6% during the 4th quarter. E. Ohman J or Asset Management AB now owns 23,890 shares of the company’s stock worth $2,485,000 after buying an additional 16,750 shares during the period. Optas LLC grew its stake in PACCAR by 4.4% in the 4th quarter. Optas LLC now owns 2,731 shares of the company’s stock valued at $284,000 after buying an additional 116 shares during the last quarter. Princeton Global Asset Management LLC raised its holdings in PACCAR by 3.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 29,580 shares of the company’s stock worth $3,077,000 after acquiring an additional 935 shares during the period. Finally, Valley National Advisers Inc. lifted its position in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,871 shares of company stock worth $14,586,333 over the last three months. 2.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PCAR shares. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, Citigroup dropped their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

PACCAR Price Performance

Shares of PACCAR stock opened at $106.02 on Friday. The firm has a market cap of $55.59 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 2.87 and a beta of 0.92. The firm’s 50-day simple moving average is $109.71 and its 200-day simple moving average is $104.57. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67.

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

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is 16.69%.

About PACCAR

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.