Czech National Bank Grows Stock Holdings in PACCAR Inc. $PCAR

Czech National Bank boosted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 6.5% in the second quarter, Holdings Channel reports. The institutional investor owned 128,318 shares of the company’s stock after acquiring an additional 7,872 shares during the quarter. Czech National Bank’s holdings in PACCAR were worth $12,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. FORA Capital LLC purchased a new position in shares of PACCAR during the 1st quarter valued at $597,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of PACCAR by 15.1% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company’s stock valued at $77,404,000 after purchasing an additional 104,281 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of PACCAR by 62.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock valued at $3,533,000 after purchasing an additional 13,904 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of PACCAR by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock valued at $1,262,000 after purchasing an additional 4,429 shares in the last quarter. Finally, Moran Wealth Management LLC grew its position in shares of PACCAR by 28.8% during the 1st quarter. Moran Wealth Management LLC now owns 235,167 shares of the company’s stock valued at $22,898,000 after purchasing an additional 52,525 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Argus upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Finally, Truist Financial cut their target price on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating for the company in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.68.

PACCAR Stock Performance

PACCAR stock opened at $102.86 on Wednesday. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $54.01 billion, a PE ratio of 17.61, a P/E/G ratio of 4.10 and a beta of 0.94. The firm has a fifty day simple moving average of $98.68 and a two-hundred day simple moving average of $96.04. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 earnings per share. Research analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.3%. PACCAR’s payout ratio is currently 22.60%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

PACCAR 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.