Raiffeisen Bank International AG Purchases New Position in PACCAR Inc (NASDAQ:PCAR)

Raiffeisen Bank International AG purchased a new stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,979 shares of the company's stock, valued at approximately $309,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its position in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of PACCAR during the 4th quarter valued at about $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR during the 4th quarter valued at about $37,000. Atala Financial Inc purchased a new stake in shares of PACCAR during the 4th quarter valued at about $43,000. Finally, Regents Gate Capital LLP bought a new position in shares of PACCAR in the 4th quarter worth approximately $44,000. Institutional investors own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PCAR. Citigroup cut their target price on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Evercore ISI cut their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday. Royal Bank of Canada reduced their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of "Hold" and an average target price of $104.14.

Insider Activity

In related news, Director Pierre R. Breber bought 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares in the company, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.02% of the company's stock.

PACCAR Price Performance

PCAR stock traded down $1.08 during trading on Friday, reaching $93.25. The company's stock had a trading volume of 657,145 shares, compared to its average volume of 2,765,053. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company's fifty day moving average is $92.96 and its 200-day moving average is $103.62. The company has a market capitalization of $48.95 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The business's revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.27 EPS. On average, research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is currently 20.00%.

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.