DekaBank Deutsche Girozentrale Raises Holdings in PACCAR Inc. (NASDAQ:PCAR)

DekaBank Deutsche Girozentrale increased its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 550,985 shares of the company's stock after purchasing an additional 3,874 shares during the period. DekaBank Deutsche Girozentrale owned 0.10% of PACCAR worth $52,378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after purchasing an additional 290 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in PACCAR during the 4th quarter valued at about $215,000. Raymond James Financial Inc. bought a new position in shares of PACCAR in the fourth quarter valued at approximately $30,440,000. Banco Santander S.A. bought a new stake in PACCAR during the fourth quarter worth approximately $277,000. Finally, Larson Financial Group LLC boosted its stake in PACCAR by 39.1% during the 4th quarter. Larson Financial Group LLC now owns 548 shares of the company's stock valued at $57,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

PCAR traded down $2.01 during trading on Friday, reaching $97.21. 2,822,712 shares of the company's stock were exchanged, compared to its average volume of 2,728,015. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a market capitalization of $51.03 billion, a P/E ratio of 14.73, a PEG ratio of 3.65 and a beta of 0.94. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $94.07 and a 200 day moving average price of $98.97.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data 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). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the prior year, the company posted $2.27 earnings per share. The company's revenue for the quarter was down 16.0% on a year-over-year basis. As a group, analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.36%. The ex-dividend date is Thursday, August 14th. PACCAR's payout ratio is presently 20.00%.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, the director directly owned 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on PCAR. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a research report on Wednesday, April 16th. Citigroup upped their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Evercore ISI dropped their target price on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $105.00 to $90.00 in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PACCAR presently has an average rating of "Hold" and a consensus target price of $104.59.

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.