Commerzbank Aktiengesellschaft FI Increases Holdings in PACCAR Inc. $PCAR

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,295 shares of the company’s stock after purchasing an additional 383 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in PACCAR were worth $599,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PCAR. Farmers & Merchants Investments Inc. boosted its position in PACCAR by 33.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company’s stock valued at $45,000 after acquiring an additional 116 shares in the last quarter. RMR Wealth Builders boosted its position in PACCAR by 1.4% during the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company’s stock valued at $848,000 after acquiring an additional 122 shares in the last quarter. Applied Capital LLC FL boosted its position in PACCAR by 0.5% during the 1st quarter. Applied Capital LLC FL now owns 25,210 shares of the company’s stock valued at $2,455,000 after acquiring an additional 124 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in PACCAR by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company’s stock valued at $4,390,000 after acquiring an additional 130 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its position in PACCAR by 5.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company’s stock valued at $228,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Vertical Research raised PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Truist Financial set a $97.00 price target on PACCAR and gave the stock a “hold” rating in a research report on Wednesday. Finally, UBS Group raised PACCAR from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.59.

PACCAR Stock Performance

PCAR stock opened at $93.00 on Friday. The stock has a market capitalization of $48.83 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.88 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock’s 50 day simple moving average is $98.73 and its 200 day simple moving average is $95.55.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.13 EPS. As a group, research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR’s dividend payout ratio is 22.60%.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $47,239.92. This represents a 91.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 directly owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

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.