J. Safra Sarasin Holding AG Grows Stake in PACCAR Inc. $PCAR

J. Safra Sarasin Holding AG raised its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 636,860 shares of the company’s stock after purchasing an additional 24,699 shares during the period. PACCAR comprises 1.3% of J. Safra Sarasin Holding AG’s portfolio, making the stock its 17th biggest position. J. Safra Sarasin Holding AG’s holdings in PACCAR were worth $73,557,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after acquiring an additional 290 shares in the last quarter. Focus Partners Wealth grew its holdings in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after acquiring an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after acquiring an additional 5,327 shares in the last quarter. Ieq Capital LLC increased its position in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after purchasing an additional 3,858 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of PACCAR in the 2nd quarter valued at about $81,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR opened at $124.57 on Monday. The company has a 50 day moving average of $116.38 and a two-hundred day moving average of $119.19. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The company has a market cap of $65.56 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The business’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, analysts predict that PACCAR Inc. will post 5.58 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.1%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is currently 29.79%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCAR. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Citigroup reissued a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Finally, Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $122.45.

PACCAR Profile

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.