PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 29.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,835 shares of the company’s stock after purchasing an additional 2,015 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in PACCAR were worth $906,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in PACCAR by 76.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 10,894 shares of the company’s stock worth $1,064,000 after acquiring an additional 4,705 shares during the period. ORG Partners LLC grew its holdings in PACCAR by 6,200.0% during the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after acquiring an additional 372 shares during the period. Graypoint LLC grew its holdings in PACCAR by 33.1% during the fourth quarter. Graypoint LLC now owns 3,458 shares of the company’s stock worth $338,000 after acquiring an additional 860 shares during the period. Simplicity Solutions LLC raised its position in shares of PACCAR by 3.6% during the fourth quarter. Simplicity Solutions LLC now owns 8,527 shares of the company’s stock worth $833,000 after purchasing an additional 295 shares during the period. Finally, Beverly Hills Private Wealth LLC acquired a new stake in shares of PACCAR during the fourth quarter worth $547,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Stock Up 1.4 %

Shares of NASDAQ:PCAR traded up $1.32 during trading on Thursday, reaching $95.01. 2,260,244 shares of the company traded hands, compared to its average volume of 2,665,781. The firm has a fifty day simple moving average of $101.93 and a 200 day simple moving average of $108.37. The firm has a market cap of $49.81 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 1.44 and a beta of 0.92. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business earned $2.33 EPS. Analysts anticipate that PACCAR Inc will post 8.07 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio is 12.45%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCAR. Truist Financial cut their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Citigroup cut their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft cut their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. reduced their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average target price of $112.91.

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.