Czech National Bank Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Czech National Bank boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,789 shares of the company’s stock after purchasing an additional 6,909 shares during the quarter. Czech National Bank’s holdings in PACCAR were worth $10,538,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new position in PACCAR during the second quarter worth approximately $26,000. YHB Investment Advisors Inc. purchased a new position in shares of PACCAR in the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR in the first quarter valued at approximately $27,000. Riverview Trust Co purchased a new position in shares of PACCAR in the first quarter valued at approximately $29,000. Finally, Meeder Asset Management Inc. lifted its position 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 in the last quarter. 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 reports. Evercore ISI decreased their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Truist Financial decreased 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. JPMorgan Chase & Co. cut their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.73.

PACCAR Trading Up 2.1 %

PCAR stock traded up $2.16 during midday trading on Friday, hitting $103.41. 2,796,414 shares of the company’s stock were exchanged, compared to its average volume of 2,625,178. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $95.93 and a two-hundred day simple moving average of $105.05. The stock has a market capitalization of $54.20 billion, a PE ratio of 10.73, a P/E/G ratio of 1.52 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued 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 net margin of 14.07% and a return on equity of 29.87%. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same period in the previous year, the firm posted $2.33 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts predict that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is currently owned by company insiders.

About PACCAR

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.