Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 208,488 shares of the company's stock after purchasing an additional 6,558 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in PACCAR were worth $20,359,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in PACCAR by 49.0% during the first quarter. State Street Corp now owns 21,345,321 shares of the company's stock valued at $1,562,477,000 after acquiring an additional 7,020,923 shares during the period. Geode Capital Management LLC boosted its holdings in PACCAR by 53.3% during the first quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company's stock valued at $858,948,000 after acquiring an additional 4,082,677 shares during the period. Norges Bank bought a new stake in PACCAR during the fourth quarter valued at about $323,885,000. Wellington Management Group LLP boosted its holdings in PACCAR by 249.2% during the first quarter. Wellington Management Group LLP now owns 3,845,387 shares of the company's stock valued at $338,663,000 after acquiring an additional 2,744,040 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in PACCAR by 2,578.2% during the first quarter. Mercer Global Advisors Inc. ADV now owns 2,292,972 shares of the company's stock valued at $167,846,000 after acquiring an additional 2,207,357 shares during the period. Institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction on Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the transaction, the chief financial officer now directly owns 103,547 shares of the company's stock, valued at $10,589,751.69. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Mark C. Pigott sold 74,347 shares of the firm's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Harrie Schippers sold 5,000 shares of the firm's stock in a transaction on Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock valued at $15,834,812 over the last three months. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Down 1.9 %

PCAR stock traded down $2.17 during midday trading on Thursday, reaching $113.76. The company's stock had a trading volume of 2,343,412 shares, compared to its average volume of 2,280,424. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50. The stock has a market cap of $59.61 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The business's 50-day simple moving average is $115.86 and its 200-day simple moving average is $100.66.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm had revenue of $8.59 billion for the quarter, compared to analysts' expectations of $8.48 billion. During the same period last year, the firm earned $1.76 earnings per share. The business's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that PACCAR Inc will post 8.16 EPS for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. PACCAR's dividend payout ratio is 12.31%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PCAR. Truist Financial began coverage on shares of PACCAR in a report on Thursday, March 14th. They set a "hold" rating and a $117.00 price target for the company. Evercore ISI upped their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an "in-line" rating in a research report on Tuesday, February 20th. The Goldman Sachs Group upped their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a "neutral" rating in a research report on Tuesday. Morgan Stanley began coverage on shares of PACCAR in a research report on Monday, January 8th. They set an "overweight" rating and a $125.00 price objective for the company. Finally, Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $110.82.

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.