Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in PACCAR Inc (NASDAQ:PCAR)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 10.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 214,064 shares of the company’s stock after purchasing an additional 19,552 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PACCAR were worth $22,267,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PCAR. Principal Financial Group Inc. raised its stake in PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after buying an additional 178,813 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of PACCAR in the 3rd quarter valued at approximately $52,000. Venturi Wealth Management LLC boosted its stake in PACCAR by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 5,767 shares of the company’s stock worth $569,000 after purchasing an additional 1,899 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in PACCAR by 1.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,304,807 shares of the company’s stock worth $128,758,000 after purchasing an additional 20,155 shares in the last quarter. Finally, Proactive Wealth Strategies LLC purchased a new stake in PACCAR during the 3rd quarter worth approximately $254,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 in the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Truist Financial lifted their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Finally, Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Trading Down 5.3 %

Shares of NASDAQ:PCAR opened at $104.72 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The business has a 50 day moving average of $107.42 and a two-hundred day moving average of $106.32. The company has a market capitalization of $54.96 billion, a PE ratio of 13.24, a PEG ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 16.69%.

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.