Munich Reinsurance Co Stock Corp in Munich Purchases 10,732 Shares of PACCAR Inc. $PCAR

Key Points

• Munich Reinsurance increased its PACCAR position by 2.6%, purchasing 10,732 shares to hold 419,924 shares valued at approximately $50.4 million. Institutional investors collectively own 64.9% of PACCAR.
• Analysts maintain a broadly neutral view, with two Buy ratings and eleven Hold ratings. PACCAR has a consensus rating of Hold and an average price target of $132.30.
• PACCAR exceeded quarterly expectations with EPS of $1.43 versus the $1.36 estimate and revenue of $7.55 billion versus $7.05 billion expected. The company also declared a quarterly dividend of $0.35, equivalent to a 1.1% annualized yield.

Munich Reinsurance Co Stock Corp in Munich lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 419,924 shares of the company's stock after buying an additional 10,732 shares during the period. Munich Reinsurance Co Stock Corp in Munich owned about 0.08% of PACCAR worth $50,441,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PCAR. BlackRock Inc. bought a new position in PACCAR during the second quarter valued at approximately $4,927,720,000. Wellington Management Group LLP raised its stake in shares of PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company's stock worth $2,516,272,000 after acquiring an additional 3,597,283 shares in the last quarter. State Street Corp lifted its holdings in shares of PACCAR by 0.4% in the 4th quarter. State Street Corp now owns 22,497,197 shares of the company's stock worth $2,494,269,000 after acquiring an additional 94,869 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 50,622 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of PACCAR in the 2nd quarter valued at $1,130,496,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PCAR. Truist Financial increased their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a "hold" rating in a report on Thursday, July 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of PACCAR in a research report on Tuesday, August 18th. Citigroup raised their price objective on PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Wells Fargo & Company lifted their price objective on PACCAR from $125.00 to $157.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Finally, Morgan Stanley set a $125.00 target price on PACCAR and gave the company an "equal weight" rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $132.30.

PACCAR Stock Up 0.2%

Shares of NASDAQ:PCAR opened at $124.70 on Friday. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $139.24. The company has a market cap of $65.64 billion, a PE ratio of 26.20, a P/E/G ratio of 1.43 and a beta of 0.96. 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's 50-day moving average is $127.78 and its 200 day moving average is $121.80.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.PACCAR's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 EPS. Sell-side analysts anticipate that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Dividend Announcement

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

Insider Activity at PACCAR

In other news, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the business's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the transaction, the vice president owned 3,831 shares in the company, valued at $512,970.90. This represents a 43.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 56,842 shares of company stock valued at $7,565,677 in the last 90 days. 1.99% of the stock is owned by company insiders.

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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