Czech National Bank Increases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Czech National Bank grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 6.5% during the fourth quarter, Holdings Channel reports. The firm owned 113,679 shares of the company’s stock after purchasing an additional 6,890 shares during the quarter. Czech National Bank’s holdings in PACCAR were worth $11,825,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Quarry LP acquired a new position in shares of PACCAR in the second quarter worth $26,000. Meeder Asset Management Inc. grew its stake in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in PACCAR during the 2nd quarter worth about $36,000. Grove Bank & Trust raised its position in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares in the last quarter. Finally, Sander Capital Advisors Inc. purchased a new position in shares of PACCAR in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In other news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now owns 3,061 shares of the company’s stock, valued at $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $108.16 on Tuesday. The firm’s fifty day simple moving average is $111.33 and its 200-day simple moving average is $103.84. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market capitalization of $56.71 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.77 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same period in the previous year, the business posted $2.34 earnings per share. PACCAR’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is 14.75%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several analyst reports. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Morgan Stanley decreased their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Finally, BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $118.75.

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.