PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Czech National Bank

Czech National Bank lifted its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at $36,000. American Century Companies Inc. boosted its holdings in PACCAR by 15.4% in the second quarter. American Century Companies Inc. now owns 552,135 shares of the company's stock valued at $56,837,000 after purchasing an additional 73,494 shares during the last quarter. Meeder Asset Management Inc. grew its position 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 during the period. Federated Hermes Inc. raised its stake in shares of PACCAR by 69.2% during the 2nd quarter. Federated Hermes Inc. now owns 15,767 shares of the company's stock valued at $1,623,000 after buying an additional 6,448 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of PACCAR by 54.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 78,236 shares of the company's stock valued at $8,054,000 after buying an additional 27,507 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley reduced their price target on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Monday. Jefferies Financial Group downgraded shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Finally, Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $119.96.

PACCAR Price Performance

Shares of PACCAR stock traded up $2.04 during mid-day trading on Tuesday, reaching $110.20. 1,834,642 shares of the stock traded hands, compared to its average volume of 2,229,157. 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 business has a 50-day moving average of $111.37 and a 200 day moving average of $103.89. The stock has a market capitalization of $57.78 billion, a PE ratio of 12.31, a PEG ratio of 1.77 and a beta of 0.93. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

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

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. This is an increase from PACCAR's previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR's dividend payout ratio is presently 14.75%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the company's 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 sale, the senior vice president now directly owns 7,121 shares of the company's stock, valued at $761,947. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock valued at $6,358,552 in the last ninety days. 2.02% of the stock is currently owned by corporate insiders.

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.