J. Safra Sarasin Holding AG Grows Stock Position in PACCAR Inc. $PCAR

J. Safra Sarasin Holding AG raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 616,723 shares of the company’s stock after buying an additional 24,081 shares during the quarter. PACCAR makes up approximately 1.0% of J. Safra Sarasin Holding AG’s holdings, making the stock its 29th largest holding. J. Safra Sarasin Holding AG owned 0.12% of PACCAR worth $60,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in PACCAR in the second quarter valued at approximately $472,520,000. Pacer Advisors Inc. raised its stake in PACCAR by 2,389.2% during the third quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock worth $197,705,000 after purchasing an additional 1,930,056 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 25.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of PACCAR during the 2nd quarter valued at $83,658,000. Finally, Cullen Capital Management LLC acquired a new stake in shares of PACCAR during the 2nd quarter worth $53,272,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $122.11 on Tuesday. The firm has a market capitalization of $64.13 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 14.42 and a beta of 1.01. PACCAR Inc. has a one year low of $84.65 and a one year high of $124.53. The stock’s 50 day moving average price is $111.94 and its 200 day moving average price is $103.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio is 25.83%.

Analysts Set New Price Targets

PCAR has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Citigroup restated a “neutral” rating and issued a $120.00 price target (up previously from $113.56) on shares of PACCAR in a report on Tuesday, January 13th. Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Finally, Morgan Stanley increased their price objective on shares of PACCAR from $93.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $113.42.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.