Swiss National Bank Has $178.02 Million Holdings in PACCAR Inc. $PCAR

Key Points

• Swiss National Bank increased its PACCAR stake by 7.1% in the first quarter, ending with 1,541,325 shares valued at about $178.0 million.
• PACCAR reported second-quarter earnings that matched expectations at $1.15 per share, while revenue came in above estimates at $6.78 billion despite being down 9.8% from a year ago.
• The company also declared a quarterly dividend of $0.35 per share, or $1.40 annualized, which implies a yield of about 1.1%.

Swiss National Bank raised its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,541,325 shares of the company's stock after acquiring an additional 102,400 shares during the period. Swiss National Bank owned approximately 0.29% of PACCAR worth $178,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AIA Group Ltd boosted its stake in PACCAR by 17.0% in the 1st quarter. AIA Group Ltd now owns 108,600 shares of the company's stock valued at $12,543,000 after purchasing an additional 15,800 shares during the period. Arjuna Capital increased its position in PACCAR by 1.5% during the 1st quarter. Arjuna Capital now owns 17,096 shares of the company's stock worth $1,975,000 after buying an additional 250 shares during the period. Kinsale Capital Group Inc. increased its position in PACCAR by 6.0% during the 1st quarter. Kinsale Capital Group Inc. now owns 93,821 shares of the company's stock worth $10,836,000 after buying an additional 5,275 shares during the period. Bessemer Group Inc. lifted its holdings in shares of PACCAR by 19.8% during the first quarter. Bessemer Group Inc. now owns 18,337 shares of the company's stock worth $2,119,000 after buying an additional 3,031 shares in the last quarter. Finally, Avalon Trust Co lifted its holdings in shares of PACCAR by 13.7% during the first quarter. Avalon Trust Co now owns 995 shares of the company's stock worth $115,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

PCAR opened at $126.20 on Monday. The firm has a market cap of $66.42 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The business's fifty day moving average is $117.32 and its 200-day moving average is $119.66.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts' consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. PACCAR's revenue for the quarter was down 9.8% compared to the same quarter last year. Sell-side analysts expect that PACCAR Inc. will post 5.65 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR's dividend payout ratio (DPR) is currently 29.79%.

Analysts Set New Price Targets

Several equities analysts recently commented on PCAR shares. Citigroup restated a "neutral" rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the stock an "equal weight" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $140.00 to $155.00 and gave the company an "overweight" rating in a report on Monday, July 13th. BNP Paribas Exane assumed coverage on shares of PACCAR in a research report on Tuesday, March 31st. They set a "neutral" rating and a $126.00 target price on the stock. Finally, Morgan Stanley increased their target price on shares of PACCAR from $109.00 to $113.00 and gave the stock an "equal weight" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $124.18.

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.

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc. (NASDAQ:PCAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.