Erste Asset Management GmbH Has $4.98 Million Position in PACCAR Inc (NASDAQ:PCAR)

Erste Asset Management GmbH decreased its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 92.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,843 shares of the company's stock after selling 594,364 shares during the period. Erste Asset Management GmbH's holdings in PACCAR were worth $4,979,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PCAR. Principal Financial Group Inc. grew its stake in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after acquiring an additional 178,813 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in PACCAR by 1.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 79,485 shares of the company's stock worth $7,844,000 after buying an additional 1,249 shares in the last quarter. KBC Group NV boosted its stake in PACCAR by 50.4% during the third quarter. KBC Group NV now owns 241,097 shares of the company's stock worth $23,792,000 after buying an additional 80,749 shares in the last quarter. Metis Global Partners LLC boosted its stake in PACCAR by 1.8% during the third quarter. Metis Global Partners LLC now owns 16,751 shares of the company's stock worth $1,653,000 after buying an additional 300 shares in the last quarter. Finally, Intellectus Partners LLC boosted its stake in PACCAR by 5.1% during the third quarter. Intellectus Partners LLC now owns 10,723 shares of the company's stock worth $1,058,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research note on Tuesday. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Melius Research upgraded shares of PACCAR to a "strong-buy" rating in a research note on Tuesday. Citigroup decreased their price target on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Finally, UBS Group downgraded shares of PACCAR from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $124.00 to $108.00 in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.23.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company's stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

Shares of PACCAR stock traded down $0.62 during trading on Wednesday, reaching $99.59. The company's stock had a trading volume of 2,233,432 shares, compared to its average volume of 2,504,357. The stock has a 50-day moving average price of $106.86 and a two-hundred day moving average price of $106.50. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The stock has a market capitalization of $52.27 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal 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 issued a dividend of $3.00 per share. This is a boost from PACCAR's previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR's payout ratio is currently 16.69%.

PACCAR Company 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.