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

Erste Asset Management GmbH lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 92.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCAR. Everence Capital Management Inc. purchased a new stake in shares of PACCAR in the fourth quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. raised its holdings in shares of PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after purchasing an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of PACCAR by 24.3% in the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction 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. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 in the last 90 days. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR opened at $99.21 on Friday. The company has a market capitalization of $52.07 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $107.17 and a 200-day moving average price of $106.26. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS 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%. Equities analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is currently 16.69%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Truist Financial increased their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Evercore ISI decreased their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Citigroup decreased their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

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.