Commerzbank Aktiengesellschaft FI Takes Position in PACCAR Inc. $PCAR

Commerzbank Aktiengesellschaft FI bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the second quarter, Holdings Channel reports. The fund bought 12,287 shares of the company’s stock, valued at approximately $1,476,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after purchasing an additional 363,782 shares during the period. Wellington Management Group LLP increased its holdings in shares of PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after purchasing an additional 3,597,283 shares during the period. State Street Corp raised its position in shares of PACCAR by 0.4% in the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PACCAR by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares in the last quarter. Finally, Norges Bank bought a new stake in PACCAR during the fourth quarter valued at $727,745,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 2.2%

Shares of NASDAQ PCAR opened at $128.02 on Wednesday. The stock has a market capitalization of $67.38 billion, a P/E ratio of 26.90, a PEG ratio of 1.04 and a beta of 0.97. PACCAR Inc. has a one year low of $92.25 and a one year high of $139.24. The firm’s 50 day simple moving average is $125.73 and its two-hundred day simple moving average is $121.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The firm’s revenue was up .5% on a year-over-year basis. As a group, analysts expect that PACCAR Inc. will post 5.85 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 29.41%.

Insider Buying and Selling

In other news, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the sale, the chief financial officer owned 1,391 shares of the company’s stock, valued at approximately $184,307.50. The trade was a 58.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The SEC filing for this sale provides additional information. Insiders sold a total of 56,842 shares of company stock valued at $7,565,677 over the last three months. 1.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on PCAR. Wells Fargo & Company boosted their target price on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Citigroup lifted their target price on shares of PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $131.70.

PACCAR 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.