Czech National Bank Raises Position in PACCAR Inc. $PCAR

Czech National Bank boosted its position in PACCAR Inc. (NASDAQ:PCAR) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,801 shares of the company’s stock after purchasing an additional 6,711 shares during the quarter. Czech National Bank’s holdings in PACCAR were worth $17,994,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PCAR. PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of PACCAR by 10.9% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 75,480 shares of the company’s stock valued at $9,067,000 after purchasing an additional 7,400 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of PACCAR by 1,756.3% in the second quarter. Assenagon Asset Management S.A. now owns 732,745 shares of the company’s stock worth $88,017,000 after buying an additional 693,272 shares in the last quarter. GAMMA Investing LLC raised its holdings in PACCAR by 1.1% in the 2nd quarter. GAMMA Investing LLC now owns 13,636 shares of the company’s stock worth $1,638,000 after acquiring an additional 153 shares during the last quarter. Western Wealth Management LLC purchased a new stake in PACCAR during the 1st quarter valued at $141,000. Finally, Glenmede Trust Co. NA increased its holdings in shares of PACCAR by 4.3% in the 1st quarter. Glenmede Trust Co. NA now owns 14,065 shares of the company’s stock worth $1,625,000 after purchasing an additional 583 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. Sanford C. Bernstein restated an “outperform” rating and set a $148.00 target price on shares of PACCAR in a research note on Wednesday, July 29th. Wells Fargo & Company raised their price target on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Finally, Morgan Stanley set a $119.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $131.70.

Insider Buying and Selling

In other news, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at approximately $512,970.90. This represents a 43.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 56,842 shares of company stock worth $7,565,677 in the last 90 days. Company insiders own 1.99% of the company’s stock.

PACCAR Stock Up 0.8%

Shares of PCAR stock opened at $133.11 on Friday. The stock has a market cap of $70.06 billion, a P/E ratio of 27.96, a PEG ratio of 1.05 and a beta of 0.97. The company’s fifty day simple moving average is $123.62 and its two-hundred day simple moving average is $121.33. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 earnings per share. Analysts predict that PACCAR Inc. will post 5.85 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.