DekaBank Deutsche Girozentrale Buys 6,115 Shares of PACCAR Inc (NASDAQ:PCAR)

DekaBank Deutsche Girozentrale lifted its position in PACCAR Inc (NASDAQ:PCAR) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 547,111 shares of the company’s stock after purchasing an additional 6,115 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in PACCAR were worth $53,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in PACCAR in the 2nd quarter valued at $26,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR in the first quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in PACCAR during the 2nd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC increased its holdings in PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

PACCAR stock opened at $105.90 on Monday. The business has a 50-day moving average of $99.39 and a 200-day moving average of $103.09. The company has a current ratio of 1.91, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $55.51 billion, a P/E ratio of 10.99, a PEG ratio of 1.62 and a beta of 0.91. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the company earned $2.34 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts anticipate that PACCAR Inc will post 8.07 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 12.45%.

Analyst Ratings Changes

A number of research firms have commented on PCAR. Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Evercore ISI reduced their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Nine 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, the company has a consensus rating of “Hold” and an average price target of $114.18.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.