Baader Bank Aktiengesellschaft Acquires Shares of 6,660 PACCAR Inc. $PCAR

Baader Bank Aktiengesellschaft acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,660 shares of the company’s stock, valued at approximately $768,000.

A number of other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC increased its stake in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth boosted its stake in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after acquiring an additional 5,327 shares during the last quarter. Ieq Capital LLC grew its holdings in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after acquiring an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in PACCAR during the 2nd quarter worth $81,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

PACCAR stock opened at $126.25 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The company has a fifty day moving average price of $117.82 and a two-hundred day moving average price of $119.87. The company has a market cap of $66.44 billion, a PE ratio of 26.86, a P/E/G ratio of 1.14 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. Research analysts expect that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is currently 29.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BNP Paribas Exane began coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Finally, Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $124.18.

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.