J. Safra Sarasin Holding AG Purchases 24,699 Shares of PACCAR Inc. $PCAR

Key Points

• J. Safra Sarasin Holding AG increased its PACCAR stake by 4.0% in the first quarter, buying 24,699 more shares and bringing its total to 636,860 shares worth about $73.6 million.
• PACCAR’s stock has mixed analyst sentiment: several firms trimmed targets or downgraded the name, and the current consensus rating is Hold with an average price target of $122.45.
• The company recently posted Q1 EPS of $1.15, matching expectations, and raised its quarterly dividend to $0.35 per share, implying a 1.1% yield.

J. Safra Sarasin Holding AG raised its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,860 shares of the company's stock after buying an additional 24,699 shares during the quarter. PACCAR comprises 1.3% of J. Safra Sarasin Holding AG's portfolio, making the stock its 17th biggest holding. J. Safra Sarasin Holding AG owned approximately 0.12% of PACCAR worth $73,557,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PCAR. Ares Financial Consulting LLC purchased a new stake in shares of PACCAR during the 4th quarter valued at about $27,000. MCF Advisors LLC grew its position in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company's stock worth $28,000 after acquiring an additional 92 shares in the last quarter. Steph & Co. purchased a new position in PACCAR in the first quarter worth about $29,000. Elyxium Wealth LLC bought a new stake in PACCAR during the fourth quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC bought a new stake in PACCAR during the third quarter worth approximately $32,000. Institutional investors own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of several analyst reports. Weiss Ratings lowered PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the company an "equal weight" rating in a research report on Wednesday, April 29th. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $150.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of "Hold" and a consensus price target of $122.45.

PACCAR Stock Performance

Shares of PACCAR stock opened at $124.57 on Monday. The stock's fifty day moving average is $116.38 and its two-hundred day moving average is $119.19. The company has a market capitalization of $65.56 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.16 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 - Get Free Report) last released its 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 business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. As a group, analysts expect that PACCAR Inc. will post 5.58 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.1%. This is a boost from PACCAR's previous quarterly dividend of $0.33. PACCAR's payout ratio is 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.

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