DekaBank Deutsche Girozentrale Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

DekaBank Deutsche Girozentrale decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 540,996 shares of the company’s stock after selling 9,989 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in PACCAR were worth $56,158,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PSI Advisors LLC purchased a new position in shares of PACCAR during the 1st quarter valued at $25,000. YHB Investment Advisors Inc. purchased a new stake in PACCAR in the 1st quarter worth $27,000. New Covenant Trust Company N.A. purchased a new stake in PACCAR in the 1st quarter worth $27,000. Riverview Trust Co purchased a new stake in PACCAR in the 1st quarter worth $29,000. Finally, Rise Advisors LLC purchased a new stake in PACCAR in the 1st quarter worth $31,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. Raymond James initiated coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial decreased their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Citigroup decreased their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Evercore ISI decreased their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $112.73.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $95.12 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The firm has a market capitalization of $49.86 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 1.46 and a beta of 0.91. The company’s 50-day moving average is $97.40 and its 200 day moving average is $106.69.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the company earned $2.33 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts forecast that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.