DekaBank Deutsche Girozentrale Increases Stock Position in PACCAR Inc. (NASDAQ:PCAR)

DekaBank Deutsche Girozentrale raised its position in PACCAR Inc. (NASDAQ:PCAR) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 550,985 shares of the company’s stock after acquiring an additional 3,874 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.10% of PACCAR worth $52,378,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PCAR. Brown Advisory Inc. raised its holdings in shares of PACCAR by 0.4% during the first quarter. Brown Advisory Inc. now owns 43,923 shares of the company’s stock valued at $4,277,000 after acquiring an additional 179 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in 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 during the period. Beverly Hills Private Wealth LLC raised its holdings in PACCAR by 7.2% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 17,501 shares of the company’s stock worth $1,704,000 after purchasing an additional 1,168 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of PACCAR by 0.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 551,907 shares of the company’s stock worth $53,739,000 after purchasing an additional 2,115 shares during the period. Finally, Hexagon Capital Partners LLC boosted its stake in shares of PACCAR by 32.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,084 shares of the company’s stock valued at $106,000 after purchasing an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR stock opened at $98.70 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a market cap of $51.81 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 3.57 and a beta of 0.94. The stock’s fifty day moving average price is $93.71 and its 200-day moving average price is $99.01.

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 the consensus estimate of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.27 earnings per share. On average, equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. PACCAR’s payout ratio is currently 20.00%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research reports. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a report on Wednesday, April 16th. Melius Research set a $120.00 price target on PACCAR in a research report on Tuesday, March 18th. JPMorgan Chase & Co. lowered shares of PACCAR from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, Evercore ISI cut their price target on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and an average target price of $104.59.

Insider Activity

In other news, Director Pierre R. Breber bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, the director owned 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.02% of the company’s stock.

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.