Sumitomo Mitsui Asset Management Company LTD Raises Stake in PACCAR Inc. (PCAR)

Sumitomo Mitsui Asset Management Company LTD raised its position in PACCAR Inc. (NASDAQ:PCAR) by 76.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,819 shares of the company’s stock after buying an additional 22,089 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in PACCAR were worth $3,356,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PCAR. Benjamin F. Edwards & Company Inc. increased its position in PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $107,000 after buying an additional 95 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in shares of PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock valued at $108,000 after buying an additional 400 shares during the period. State of Alaska Department of Revenue increased its position in shares of PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after buying an additional 500 shares during the period. Perkins Coie Trust Co increased its position in shares of PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after buying an additional 1,157 shares during the period. Finally, Boltwood Capital Management purchased a new position in shares of PACCAR during the first quarter valued at about $201,000. 62.33% of the stock is owned by hedge funds and other institutional investors.

Shares of PACCAR Inc. (NASDAQ:PCAR) opened at 63.00 on Friday. PACCAR Inc. has a 52 week low of $53.38 and a 52 week high of $70.32. The company has a 50 day moving average price of $67.30 and a 200 day moving average price of $66.42. The company has a market cap of $22.14 billion, a PE ratio of 16.86 and a beta of 1.14.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. On average, equities analysts expect that PACCAR Inc. will post $4.00 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. PACCAR’s dividend payout ratio is 26.74%.

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PCAR has been the subject of several analyst reports. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded shares of PACCAR from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Barclays PLC set a $56.00 price objective on shares of PACCAR and gave the company a “sell” rating in a research note on Wednesday, April 26th. UBS AG set a $75.00 price objective on shares of PACCAR and gave the company a “buy” rating in a research note on Thursday, July 6th. Finally, Bank of America Corporation cut shares of PACCAR from a “buy” rating to a “neutral” rating and cut their price objective for the company from $78.00 to $70.00 in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $72.00.

In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares in the company, valued at $1,412,112. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.64% of the stock is owned by company insiders.

About PACCAR

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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