Deutsche Bank AG Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Deutsche Bank AG cut its position in PACCAR Inc (NASDAQ:PCAR) by 3.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,995,981 shares of the company’s stock after selling 78,603 shares during the period. Deutsche Bank AG’s holdings in PACCAR were worth $207,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Madrona Financial Services LLC increased its stake in PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after purchasing an additional 91 shares during the period. Global Financial Private Client LLC increased its stake in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after buying an additional 97 shares during the period. PDS Planning Inc lifted its holdings in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock worth $292,000 after buying an additional 101 shares in the last quarter. Valley National Advisers Inc. boosted its position in PACCAR by 0.6% in the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after buying an additional 106 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of PACCAR by 14.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock worth $88,000 after acquiring an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38 % increase in their position. The disclosure for this purchase can be found here. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

Shares of PCAR opened at $90.61 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1-year low of $84.65 and a 1-year high of $118.81. The stock has a market cap of $47.56 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The firm has a fifty day moving average price of $94.45 and a 200 day moving average price of $104.20.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period last year, the company earned $2.27 earnings per share. As a group, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.46%. PACCAR’s payout ratio is 20.00%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup reduced their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, Royal Bank of Canada dropped their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.23.

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.