PACCAR Inc. $PCAR Shares Acquired by Swiss National Bank

Swiss National Bank increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 7.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,589,025 shares of the company’s stock after buying an additional 110,300 shares during the quarter. Swiss National Bank’s holdings in PACCAR were worth $151,053,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. increased its position in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Bayforest Capital Ltd increased its position in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares in the last quarter. Accent Capital Management LLC purchased a new stake in PACCAR during the 1st quarter worth about $40,000. Hantz Financial Services Inc. raised its stake in PACCAR by 43.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after purchasing an additional 134 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new position in PACCAR in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $102.99 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82. The firm has a market capitalization of $54.09 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a 50 day moving average price of $98.01 and a 200 day moving average price of $96.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 earnings per share. Sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s payout ratio is 25.83%.

Insider Buying and Selling

In other news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PCAR shares. UBS Group set a $103.00 price target on shares of PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, July 28th. Zacks Research lowered PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.54.

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.