J. Safra Sarasin Holding AG Increases Position in PACCAR Inc (NASDAQ:PCAR)

J. Safra Sarasin Holding AG increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 632,491 shares of the company’s stock after acquiring an additional 6,398 shares during the period. PACCAR makes up about 1.1% of J. Safra Sarasin Holding AG’s investment portfolio, making the stock its 27th largest position. J. Safra Sarasin Holding AG’s holdings in PACCAR were worth $65,792,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Everence Capital Management Inc. acquired a new position in shares of PACCAR in the fourth quarter valued at approximately $1,984,000. Cullen Frost Bankers Inc. grew its position in PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after buying an additional 6,494 shares during the last quarter. LPL Financial LLC increased its stake in PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock valued at $22,094,000 after buying an additional 12,143 shares during the period. Insight Wealth Strategies LLC raised its position in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of PACCAR by 19.3% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock worth $138,000 after acquiring an additional 214 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Up 1.6 %

NASDAQ:PCAR opened at $88.17 on Monday. PACCAR Inc has a 52-week low of $85.10 and a 52-week high of $118.81. 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 stock has a fifty day simple moving average of $99.09 and a 200-day simple moving average of $105.84. The company has a market capitalization of $46.28 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.50%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is presently 16.69%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on PACCAR from $121.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $108.59.

Insider Buying and Selling at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by insiders.

PACCAR Profile

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.