Zurcher Kantonalbank Zurich Cantonalbank Has $20.36 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 208,488 shares of the company’s stock after acquiring an additional 6,558 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PACCAR were worth $20,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of PACCAR by 2.0% in the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after purchasing an additional 698,784 shares in the last quarter. State Street Corp increased its holdings in shares of PACCAR by 49.0% in the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after purchasing an additional 7,020,923 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of PACCAR by 53.3% in the first quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after purchasing an additional 4,082,677 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of PACCAR by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after purchasing an additional 23,865 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of PACCAR by 6.0% in the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after purchasing an additional 316,001 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 1.4 %

PCAR opened at $115.93 on Thursday. The stock has a market capitalization of $60.75 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.78 and a beta of 0.92. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50. The firm’s fifty day simple moving average is $115.70 and its 200 day simple moving average is $100.57. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 EPS. As a group, research analysts anticipate that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.93%. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Activity at PACCAR

In related news, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of analyst reports. Evercore ISI lifted their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Morgan Stanley initiated coverage on shares of PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price for the company. Finally, TD Cowen lifted their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.82.

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.