Deutsche Bank AG Makes New Investment in PACCAR Inc. $PCAR

Deutsche Bank AG bought a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,993,509 shares of the company's stock, valued at approximately $239,460,000. Deutsche Bank AG owned 0.38% of PACCAR as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ares Financial Consulting LLC bought a new stake in shares of PACCAR in the 4th quarter worth approximately $27,000. MCF Advisors LLC boosted its position in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company's stock valued at $28,000 after purchasing an additional 92 shares during the period. Steph & Co. bought a new position in PACCAR during the 1st quarter worth $29,000. Elyxium Wealth LLC bought a new position in PACCAR during the 4th quarter worth $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in PACCAR in the third quarter worth $32,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Down 2.2%

PCAR opened at $128.02 on Wednesday. The stock's 50 day moving average price is $125.73 and its 200 day moving average price is $121.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The stock has a market cap of $67.38 billion, a P/E ratio of 26.90, a P/E/G ratio of 1.04 and a beta of 0.97. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. The firm's quarterly revenue was up .5% on a year-over-year basis. As a group, research analysts predict that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR's payout ratio is currently 29.41%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial raised their target price on PACCAR from $126.00 to $131.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. Weiss Ratings lowered shares of PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. Wells Fargo & Company increased their price objective on shares of PACCAR from $125.00 to $157.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $148.00 target price on shares of PACCAR in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, PACCAR currently has an average rating of "Hold" and an average price target of $131.70.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 1,970 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the transaction, the chief financial officer owned 1,391 shares in the company, valued at $184,307.50. This represents a 58.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the transaction, the chief executive officer directly owned 268,625 shares in the company, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 56,842 shares of company stock valued at $7,565,677 in the last ninety days. Company insiders own 1.99% of the company's stock.

PACCAR Profile

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.

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