Czech National Bank Has $12.20 Million Stock Holdings in PACCAR Inc. $PCAR

Key Points

• The Czech National Bank has increased its holdings in PACCAR Inc. by 6.5%, owning 128,318 shares valued at approximately $12.2 million.
• Several other hedge funds have significantly boosted their stakes in PACCAR, indicating a growing institutional interest in the company.
• PACCAR has declared a quarterly dividend of $0.33, to be paid on December 3rd, representing an annualized dividend yield of 1.3%.

Czech National Bank raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 6.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 128,318 shares of the company's stock after purchasing an additional 7,872 shares during the period. Czech National Bank's holdings in PACCAR were worth $12,198,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after purchasing an additional 240 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in PACCAR during the 1st quarter valued at about $29,000. Sunbelt Securities Inc. boosted its stake in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after purchasing an additional 350 shares during the last quarter. Bayforest Capital Ltd boosted its stake in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after purchasing an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new position in PACCAR during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Citigroup lifted their target price on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI set a $114.00 target price on shares of PACCAR and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, PACCAR has an average rating of "Moderate Buy" and an average price target of $107.68.

PACCAR Trading Up 0.7%

NASDAQ:PCAR opened at $102.86 on Wednesday. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $54.01 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 4.10 and a beta of 0.94. The firm's 50 day moving average is $98.68 and its 200 day moving average is $96.04. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR's revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 EPS. Sell-side analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's payout ratio is 22.60%.

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.

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