Erste Asset Management GmbH Invests $63.19 Million in PACCAR Inc (NASDAQ:PCAR)

Erste Asset Management GmbH purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 642,207 shares of the company's stock, valued at approximately $63,186,000. Erste Asset Management GmbH owned approximately 0.12% of PACCAR at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PCAR. Atria Investments Inc increased its stake in shares of PACCAR by 23.4% during the 1st quarter. Atria Investments Inc now owns 17,548 shares of the company's stock worth $2,174,000 after purchasing an additional 3,324 shares during the last quarter. Cetera Investment Advisers increased its position in PACCAR by 371.8% during the first quarter. Cetera Investment Advisers now owns 44,311 shares of the company's stock worth $5,490,000 after buying an additional 34,919 shares during the last quarter. Cetera Advisors LLC raised its holdings in PACCAR by 61.5% during the first quarter. Cetera Advisors LLC now owns 15,781 shares of the company's stock valued at $1,955,000 after buying an additional 6,010 shares in the last quarter. GAMMA Investing LLC lifted its holdings in PACCAR by 28.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,322 shares of the company's stock worth $548,000 after purchasing an additional 1,174 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of PACCAR by 11.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the company's stock worth $184,000 after buying an additional 190 shares during the period. Institutional investors own 64.90% of the company's stock.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of 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 document filed with the SEC, which is available at the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last three months. Corporate insiders own 2.02% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial upped their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. BNP Paribas raised PACCAR to a "hold" rating in a report on Wednesday, October 16th. Morgan Stanley cut their price target on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Citigroup boosted their target price on shares of PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 20th. Finally, Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $117.64.

PACCAR Price Performance

NASDAQ:PCAR traded up $0.82 during trading hours on Friday, reaching $117.00. The company had a trading volume of 1,069,530 shares, compared to its average volume of 2,259,252. 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 stock has a 50-day moving average of $107.64 and a two-hundred day moving average of $103.31. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The firm has a market capitalization of $61.34 billion, a PE ratio of 13.07, a PEG ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.03. The business 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 firm's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.34 EPS. Analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. PACCAR's dividend payout ratio (DPR) is presently 13.41%.

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.