Baader Bank Aktiengesellschaft Buys 2,015 Shares of PACCAR Inc (NASDAQ:PCAR)

Baader Bank Aktiengesellschaft lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 29.5% during the second quarter, Holdings Channel.com reports. The firm owned 8,835 shares of the company’s stock after acquiring an additional 2,015 shares during the period. Baader Bank Aktiengesellschaft’s holdings in PACCAR were worth $906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of PACCAR by 4.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after buying an additional 27,963 shares during the last quarter. abrdn plc grew its holdings in shares of PACCAR by 50.9% during the fourth quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after buying an additional 89,359 shares during the last quarter. BDF Gestion acquired a new position in shares of PACCAR during the second quarter valued at about $2,862,000. California State Teachers Retirement System grew its stake in shares of PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after acquiring an additional 9,978 shares in the last quarter. Finally, Advisory Services Network LLC grew its stake in shares of PACCAR by 15.9% in the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after acquiring an additional 7,678 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR traded up $1.32 during mid-day trading on Thursday, hitting $95.01. The stock had a trading volume of 2,260,244 shares, compared to its average volume of 2,665,781. The firm has a market cap of $49.81 billion, a P/E ratio of 9.87, a PEG ratio of 1.44 and a beta of 0.92. The business has a fifty day moving average price of $101.93 and a 200-day moving average price of $108.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. On average, equities research analysts expect that PACCAR Inc will post 8.07 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is presently 12.45%.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday. Raymond James assumed coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.91.

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.