Bank Julius Baer & Co. Ltd Zurich Has $390,000 Stock Position in PACCAR Inc (NASDAQ:PCAR)

Bank Julius Baer & Co. Ltd Zurich reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,996 shares of the company’s stock after selling 587 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in PACCAR were worth $390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. DAVENPORT & Co LLC acquired a new position in PACCAR in the third quarter valued at approximately $245,000. Ballentine Partners LLC lifted its stake in PACCAR by 15.1% in the third quarter. Ballentine Partners LLC now owns 4,940 shares of the company’s stock valued at $420,000 after buying an additional 648 shares during the period. Valeo Financial Advisors LLC lifted its stake in PACCAR by 10.3% in the third quarter. Valeo Financial Advisors LLC now owns 4,712 shares of the company’s stock valued at $401,000 after buying an additional 439 shares during the period. ST Germain D J Co. Inc. lifted its stake in PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 130 shares during the period. Finally, Mcdaniel Terry & Co. lifted its stake in PACCAR by 0.5% in the third quarter. Mcdaniel Terry & Co. now owns 387,560 shares of the company’s stock valued at $32,950,000 after buying an additional 1,890 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,293 shares of company stock worth $14,581,337. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PCAR. JPMorgan Chase & Co. boosted their price target on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Morgan Stanley initiated coverage on PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price on the stock. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Royal Bank of Canada initiated coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price on the stock. Finally, TD Cowen upped their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.08.

PACCAR Stock Down 0.6 %

PCAR stock opened at $111.96 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The company has a market capitalization of $58.67 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.68 and a beta of 0.92. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The stock has a fifty day moving average of $116.58 and a 200-day moving average of $101.87.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.96%. PACCAR’s payout ratio is 12.31%.

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.