J. Safra Sarasin Holding AG Reduces Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in PACCAR Inc. by 1.4%, now holding 623,420 shares valued at approximately $60.7 million.
• Several institutional investors, including Kovitz Investment Group and Pacer Advisors, significantly increased their positions in PACCAR by up to 370.5% in the last quarter.
• PACCAR reported earnings of $1.37 per share for the last quarter, exceeding analyst expectations, but showed a 15.7% decline in revenue year-over-year.

J. Safra Sarasin Holding AG cut its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 623,420 shares of the company's stock after selling 9,071 shares during the period. J. Safra Sarasin Holding AG owned 0.12% of PACCAR worth $60,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Banco Santander S.A. lifted its stake in PACCAR by 2,681.2% during the 1st quarter. Banco Santander S.A. now owns 74,007 shares of the company's stock valued at $7,206,000 after acquiring an additional 71,346 shares during the period. SPC Financial Inc. increased its holdings in shares of PACCAR by 2.6% during the 1st quarter. SPC Financial Inc. now owns 14,509 shares of the company's stock valued at $1,413,000 after purchasing an additional 362 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in shares of PACCAR during the 1st quarter valued at approximately $335,000. Jefferies Financial Group Inc. purchased a new position in shares of PACCAR during the 1st quarter valued at approximately $210,000. Finally, Foster & Motley Inc. increased its holdings in shares of PACCAR by 3.6% during the 1st quarter. Foster & Motley Inc. now owns 79,918 shares of the company's stock valued at $7,782,000 after purchasing an additional 2,744 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 2.3%

NASDAQ:PCAR traded down $2.28 on Friday, reaching $96.48. 3,551,259 shares of the company's stock were exchanged, compared to its average volume of 3,644,137. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $50.65 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.85 and a beta of 0.91. The business has a fifty day moving average of $95.41 and a 200-day moving average of $97.86. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (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 analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 earnings per share. As a group, analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio is presently 22.60%.

Insider Buying and Selling

In other news, Director Pierre R. Breber bought 5,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director owned 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% 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 Analyst Weigh In

PCAR has been the subject of several recent analyst reports. Citigroup boosted their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Evercore ISI cut their price target on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada cut their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Finally, Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.77.

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.