B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,863 shares of the company's stock, valued at approximately $2,157,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BDF Gestion acquired a new position in shares of PACCAR in the 2nd quarter worth approximately $2,862,000. Mengis Capital Management Inc. boosted its position in PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company's stock valued at $18,863,000 after acquiring an additional 5,433 shares during the last quarter. Virtu Financial LLC acquired a new stake in PACCAR during the 1st quarter worth about $1,359,000. Comerica Bank raised its position in shares of PACCAR by 8.7% in the 1st quarter. Comerica Bank now owns 162,864 shares of the company's stock worth $20,177,000 after acquiring an additional 13,075 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of PACCAR by 28.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company's stock valued at $2,552,000 after purchasing an additional 5,437 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.
In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the transaction, the senior vice president now owns 7,121 shares in the company, valued at $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares of the company's stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 in the last 90 days. 2.02% of the stock is currently owned by corporate insiders.
Shares of PCAR opened at $114.08 on Friday. The firm has a market capitalization of $59.81 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.73 and a beta of 0.89. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The stock has a 50 day moving average price of $105.38 and a two-hundred day moving average price of $102.98. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $7.66 billion. During the same period last year, the business earned $2.34 EPS. The business's revenue was down 5.2% on a year-over-year basis. Equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.05%. PACCAR's dividend payout ratio (DPR) is 13.41%.
A number of equities research analysts have weighed in on PCAR shares. Evercore ISI upgraded PACCAR from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. BNP Paribas raised shares of PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Finally, Citigroup upped their price objective on shares of PACCAR from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $117.64.
Read Our Latest Research Report on 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.
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