Raiffeisen Bank International AG Buys Shares of 2,979 PACCAR Inc (NASDAQ:PCAR)

Raiffeisen Bank International AG acquired a new stake in PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, Holdings Channel.com reports. The firm acquired 2,979 shares of the company’s stock, valued at approximately $309,000.

A number of other hedge funds have also recently made changes to their positions in PCAR. Wellington Management Group LLP increased its holdings in shares of PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after buying an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock worth $1,275,269,000 after purchasing an additional 362,637 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of PACCAR by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after buying an additional 572,231 shares during the period. FMR LLC raised its holdings in PACCAR by 1.9% in the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock worth $914,509,000 after purchasing an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock worth $749,189,000 after buying an additional 565,967 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent research reports. Royal Bank of Canada reduced their target price on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 8th. StockNews.com raised PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Truist Financial cut their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Finally, Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PACCAR has an average rating of “Hold” and an average target price of $105.23.

Insider Transactions at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at $100,929.63. This represents a 86.32% 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 Stock Performance

NASDAQ:PCAR opened at $96.71 on Friday. The company has a market cap of $50.77 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock’s 50 day simple moving average is $93.34 and its two-hundred day simple moving average is $103.86. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 earnings per share. As a group, equities analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

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.