Munich Reinsurance Co Stock Corp in Munich Grows Holdings in PACCAR Inc. $PCAR

Munich Reinsurance Co Stock Corp in Munich increased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 2.6% in the 2nd quarter, Holdings Channel reports. The fund owned 419,924 shares of the company’s stock after buying an additional 10,732 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in PACCAR were worth $50,441,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PCAR. Ancora Advisors LLC bought a new position in PACCAR during the 2nd quarter valued at approximately $16,286,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of PACCAR by 2.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after acquiring an additional 9,524 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after purchasing an additional 50,622 shares during the last quarter. Swiss Life Asset Management Ltd raised its position in shares of PACCAR by 118.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock worth $69,943,000 after purchasing an additional 345,937 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in PACCAR in the 1st quarter worth about $9,273,000. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, CEO R Feight sold 50,975 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the transaction, the chief executive officer directly owned 268,625 shares in the company, valued at $35,745,928.75. This trade represents a 15.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares of the company’s stock, valued at $512,970.90. The trade was a 43.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company’s stock.

PACCAR Stock Up 0.2%

PCAR opened at $124.70 on Friday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average price of $127.78 and a 200-day moving average price of $121.80. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The stock has a market capitalization of $65.64 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.43 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the company posted $1.37 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 29.41%.

Analyst Ratings Changes

PCAR has been the subject of a number of analyst reports. Sanford C. Bernstein restated an “outperform” rating and set a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Wells Fargo & Company increased their price target on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Morgan Stanley set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Evercore set a $139.00 target price on PACCAR in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $132.30.

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.