PACCAR Inc (NASDAQ:PCAR) is MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s 9th Largest Position

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 130.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 669,058 shares of the company’s stock after buying an additional 378,810 shares during the quarter. PACCAR makes up about 2.1% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 9th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned approximately 0.13% of PACCAR worth $66,023,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its stake in shares of PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after purchasing an additional 27,963 shares during the period. BDF Gestion purchased a new position in shares of PACCAR in the 2nd quarter valued at approximately $2,862,000. Advisory Services Network LLC lifted its stake in shares of PACCAR by 15.9% in the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after purchasing an additional 7,678 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of PACCAR by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after purchasing an additional 105,109 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of PACCAR in the 1st quarter valued at approximately $1,359,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday. Evercore ISI reduced their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial reduced their price objective on PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, Raymond James assumed coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.00.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR stock opened at $106.80 on Monday. The company has a market cap of $55.99 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The stock’s fifty day moving average price is $96.64 and its 200-day moving average price is $104.13. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same quarter last year, the firm posted $2.33 earnings per share. PACCAR’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. PACCAR’s dividend payout ratio (DPR) is 12.71%.

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.