Commerzbank Aktiengesellschaft FI Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Commerzbank Aktiengesellschaft FI bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,570 shares of the company’s stock, valued at approximately $370,000.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR during the 4th quarter worth $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR during the 4th quarter worth $37,000. Regents Gate Capital LLP purchased a new stake in shares of PACCAR during the 4th quarter worth $44,000. Ashton Thomas Securities LLC purchased a new stake in shares of PACCAR during the 3rd quarter worth $52,000. Finally, AdvisorNet Financial Inc boosted its position in shares of PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after purchasing an additional 391 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Up 1.5 %

Shares of PCAR stock opened at $102.97 on Thursday. The firm has a 50-day moving average price of $107.13 and a 200 day moving average price of $105.91. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a market capitalization of $54.04 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 2.77 and a beta of 0.91. 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 (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. 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 is currently 16.69%.

Insider Activity

In other news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last 90 days. 2.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.77.

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.