Zurcher Kantonalbank Zurich Cantonalbank Has $29.59 Million Stake in PACCAR Inc. $PCAR

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 22.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,158 shares of the company’s stock after acquiring an additional 49,725 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of PACCAR worth $29,585,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Jackson Square Capital LLC lifted its holdings in PACCAR by 3.5% during the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock worth $290,000 after buying an additional 90 shares during the period. First Pacific Financial lifted its holdings in PACCAR by 11.1% during the 4th quarter. First Pacific Financial now owns 1,058 shares of the company’s stock worth $116,000 after buying an additional 106 shares during the period. Fulton Bank N.A. lifted its holdings in PACCAR by 3.2% during the 4th quarter. Fulton Bank N.A. now owns 3,458 shares of the company’s stock worth $379,000 after buying an additional 107 shares during the period. Foundations Investment Advisors LLC lifted its holdings in PACCAR by 3.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock worth $358,000 after buying an additional 108 shares during the period. Finally, Matrix Trust Co lifted its holdings in PACCAR by 3.9% during the 3rd quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock worth $290,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 2,200 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the sale, the chief financial officer directly owned 903 shares of the company’s stock, valued at $117,760.23. The trade was a 70.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the sale, the executive vice president directly owned 34,656 shares of the company’s stock, valued at $4,433,195.52. The trade was a 69.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 133,105 shares of company stock worth $16,869,046 over the last three months. Insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PCAR shares. Truist Financial lifted their target price on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th. Morgan Stanley set a $109.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Citigroup lifted their target price on PACCAR from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. JPMorgan Chase & Co. lifted their target price on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company set a $119.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average target price of $117.42.

PACCAR Stock Performance

PCAR stock opened at $126.18 on Wednesday. The stock has a 50-day moving average price of $121.35 and a 200-day moving average price of $113.12. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $131.88. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55. The firm has a market cap of $66.40 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the company posted $1.66 EPS. The business’s quarterly revenue was down 15.1% on a year-over-year basis. As a group, equities research analysts expect that PACCAR Inc. will post 5.55 earnings per share for the current year.

PACCAR Profile

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.