PACCAR Inc (NASDAQ:PCAR) is MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s 5th Largest Position

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 690,665 shares of the company’s stock after purchasing an additional 21,607 shares during the period. PACCAR comprises 2.3% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 5th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in PACCAR were worth $71,560,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PCAR. Quarry LP acquired a new position in PACCAR in the 2nd quarter valued at approximately $26,000. Grove Bank & Trust increased its stake in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares during the last quarter. Sander Capital Advisors Inc. purchased a new stake in shares of PACCAR during the third quarter worth $50,000. Ashton Thomas Securities LLC purchased a new position in PACCAR in the third quarter valued at about $52,000. Finally, AdvisorNet Financial Inc increased its position in PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after purchasing an additional 391 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PCAR. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Finally, Truist Financial boosted their price target on PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $120.13.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,085 shares of company stock valued at $6,012,070 over the last ninety days. 2.02% of the stock is owned by company insiders.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $110.06 on Friday. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The company has a market cap of $57.70 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.77 and a beta of 0.93. The business’s 50 day moving average is $110.70 and its two-hundred day moving average is $104.23.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 EPS. On average, equities analysts expect that PACCAR Inc will post 7.93 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

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.