PACCAR Inc. $PCAR Stock Position Raised by Erste Asset Management GmbH

Erste Asset Management GmbH lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 93.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,542 shares of the company’s stock after acquiring an additional 44,699 shares during the quarter. Erste Asset Management GmbH’s holdings in PACCAR were worth $8,976,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Farmers & Merchants Investments Inc. boosted its stake in shares of PACCAR by 33.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company’s stock worth $45,000 after acquiring an additional 116 shares in the last quarter. RMR Wealth Builders boosted its stake in shares of PACCAR by 1.4% during the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company’s stock worth $848,000 after acquiring an additional 122 shares in the last quarter. Applied Capital LLC FL boosted its stake in shares of PACCAR by 0.5% during the 1st quarter. Applied Capital LLC FL now owns 25,210 shares of the company’s stock worth $2,455,000 after acquiring an additional 124 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of PACCAR by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company’s stock worth $4,390,000 after acquiring an additional 130 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of PACCAR by 5.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company’s stock worth $228,000 after acquiring an additional 130 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $98.18 on Thursday. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The business has a fifty day simple moving average of $96.60 and a 200 day simple moving average of $96.95. The firm has a market cap of $51.55 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 3.99 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the company earned $2.13 earnings per share. PACCAR’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR’s dividend payout ratio (DPR) is 22.60%.

Analyst Ratings Changes

Several analysts have recently commented on PCAR shares. Royal Bank Of Canada decreased their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. UBS Group raised PACCAR from a “sell” rating to a “neutral” rating and raised their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on PACCAR and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup raised their target price on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Finally, Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.68.

Insider Activity

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

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.