Raiffeisen Bank International AG Boosts Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Raiffeisen Bank International AG increased its stock position in PACCAR Inc. by 102.2%, owning 6,024 shares worth approximately $584,000 as of the latest quarter.
• PACCAR recently declared a $0.33 quarterly dividend, yielding 1.3%, with a payout ratio of 22.60% and shares to be paid out on September 4th.
• The company reported $1.37 earnings per share (EPS) for the latest quarter, exceeding estimates by $0.09, but revenue decreased by 15.7% year-over-year to $6.96 billion.

Raiffeisen Bank International AG grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 102.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,024 shares of the company's stock after buying an additional 3,045 shares during the quarter. Raiffeisen Bank International AG's holdings in PACCAR were worth $584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of PACCAR in the 1st quarter valued at about $29,000. Sunbelt Securities Inc. boosted its stake in shares of PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after purchasing an additional 350 shares in the last quarter. Bayforest Capital Ltd increased its holdings in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after buying an additional 274 shares during the period. Finally, JFS Wealth Advisors LLC raised its stake in PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Down 0.8%

NASDAQ PCAR traded down $0.83 during trading on Wednesday, reaching $97.37. 1,711,140 shares of the company's stock were exchanged, compared to its average volume of 3,648,724. The company has a 50 day moving average price of $95.54 and a two-hundred day moving average price of $97.76. The stock has a market cap of $51.13 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 3.91 and a beta of 0.91. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. The firm 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%. PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $2.13 EPS. On average, equities research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a research note on Wednesday, April 16th. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research note on Monday, July 28th. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and upped their price objective for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $107.77.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares of the company's stock, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

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.