Deutsche Bank AG Trims Stock Position in PACCAR Inc (NASDAQ:PCAR)

Deutsche Bank AG decreased its stake in PACCAR Inc (NASDAQ:PCAR) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,995,981 shares of the company’s stock after selling 78,603 shares during the quarter. Deutsche Bank AG owned approximately 0.38% of PACCAR worth $207,622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. boosted its position in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in PACCAR during the fourth quarter valued at $37,000. Kestra Investment Management LLC purchased a new position in PACCAR in the fourth quarter valued at $37,000. OFI Invest Asset Management acquired a new position in shares of PACCAR in the fourth quarter worth about $43,000. Finally, Atala Financial Inc acquired a new position in shares of PACCAR in the fourth quarter worth about $43,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. The trade was a 62.38 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at $100,929.63. This represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PCAR shares. Royal Bank of Canada cut their price target on PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research note on Thursday. Melius Research set a $120.00 target price on PACCAR in a research note on Tuesday, March 18th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. cut shares of PACCAR from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Finally, Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $105.23.

PACCAR Price Performance

PCAR stock opened at $90.61 on Friday. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market capitalization of $47.56 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The business has a 50 day simple moving average of $94.45 and a 200-day simple moving average of $104.20.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.27 earnings per share. Equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.46%. PACCAR’s payout ratio is 20.00%.

About 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.