Deutsche Bank AG Purchases Shares of 1,993,509 PACCAR Inc. $PCAR

Deutsche Bank AG purchased a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, HoldingsChannel reports. The fund purchased 1,993,509 shares of the company’s stock, valued at approximately $239,460,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of PACCAR by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after buying an additional 363,782 shares during the period. Wellington Management Group LLP boosted its stake in PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares in the last quarter. State Street Corp grew its holdings in PACCAR by 0.4% during the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after acquiring an additional 94,869 shares during the period. Geode Capital Management LLC grew its holdings in PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after acquiring an additional 50,622 shares during the period. Finally, Norges Bank bought a new stake in PACCAR in the fourth quarter worth about $727,745,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCAR has been the subject of several research reports. Morgan Stanley set a $119.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $131.70.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the transaction, the chief financial officer directly owned 1,391 shares in the company, valued at approximately $184,307.50. The trade was a 58.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 56,842 shares of company stock worth $7,565,677. Company insiders own 1.99% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $128.02 on Wednesday. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a one year low of $92.25 and a one year high of $139.24. The firm has a market capitalization of $67.38 billion, a PE ratio of 26.90, a P/E/G ratio of 1.04 and a beta of 0.97. The firm has a 50-day moving average of $125.73 and a two-hundred day moving average of $121.76.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. On average, analysts forecast that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.