Commerzbank Aktiengesellschaft FI Trims Stock Holdings in PACCAR Inc. $PCAR

Commerzbank Aktiengesellschaft FI lowered its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 37.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 12,427 shares of the company’s stock after selling 7,288 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in PACCAR were worth $1,435,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PCAR. Vanguard Group Inc. lifted its holdings in shares of PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after purchasing an additional 363,782 shares during the period. Wellington Management Group LLP boosted its position in PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the last quarter. State Street Corp increased its holdings in PACCAR by 0.4% in the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares during the period. Geode Capital Management LLC raised its position in PACCAR by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares during the last quarter. Finally, Norges Bank purchased a new position in PACCAR during the 4th quarter worth approximately $727,745,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial lifted their price objective on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Citigroup reissued a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their price target on PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $124.18.

PACCAR Trading Up 1.5%

PACCAR stock opened at $126.25 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The stock’s 50 day simple moving average is $117.82 and its two-hundred day simple moving average is $119.87. The firm 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 quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business’s revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. Analysts anticipate that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

About PACCAR

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.