Commerzbank Aktiengesellschaft FI Cuts Position in PACCAR Inc. $PCAR

Commerzbank Aktiengesellschaft FI decreased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 37.0% in the first quarter, HoldingsChannel.com reports. The firm owned 12,427 shares of the company’s stock after selling 7,288 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in PACCAR were worth $1,435,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PCAR. Ares Financial Consulting LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at approximately $27,000. MCF Advisors LLC raised its stake in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares during the period. Steph & Co. purchased a new position in shares of PACCAR during the 1st quarter valued at approximately $29,000. Elyxium Wealth LLC purchased a new position in shares of PACCAR during the 4th quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in PACCAR in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, July 13th. BNP Paribas Exane assumed coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. Truist Financial upped their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $124.18.

PACCAR Price Performance

PACCAR stock opened at $126.25 on Wednesday. The company has a fifty day simple moving average of $117.82 and a 200-day simple moving average of $119.87. The firm has a market capitalization of $66.44 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.14 and a beta of 0.97. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.46 earnings per share. On average, equities analysts anticipate that PACCAR Inc. will post 5.66 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio is presently 29.79%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.