Commerzbank Aktiengesellschaft FI Has $1.94 Million Position in PACCAR Inc. $PCAR

Commerzbank Aktiengesellschaft FI grew its position in PACCAR Inc. (NASDAQ:PCAR) by 213.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,715 shares of the company’s stock after purchasing an additional 13,420 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in PACCAR were worth $1,939,000 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 company. State Street Corp raised its stake in PACCAR by 1.0% during the 2nd quarter. State Street Corp now owns 22,534,596 shares of the company’s stock worth $2,142,139,000 after buying an additional 218,188 shares during the period. Geode Capital Management LLC increased its holdings in shares of PACCAR by 1.3% in the second quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock worth $1,184,112,000 after acquiring an additional 159,632 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock worth $551,211,000 after acquiring an additional 1,165,443 shares in the last quarter. Invesco Ltd. raised its position in shares of PACCAR by 5.0% during the second quarter. Invesco Ltd. now owns 5,212,386 shares of the company’s stock worth $495,489,000 after purchasing an additional 246,410 shares during the period. Finally, Norges Bank bought a new position in shares of PACCAR during the 2nd quarter valued at about $472,520,000. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on PCAR shares. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. UBS Group set a $103.00 price objective on shares of PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Citigroup restated a “neutral” rating and set a $120.00 price objective (up from $113.56) on shares of PACCAR in a report on Tuesday, January 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $125.00 target price on shares of PACCAR in a research note on Friday, December 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $90.00 target price on shares of PACCAR in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average target price of $113.42.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $122.00 on Monday. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $64.07 billion, a P/E ratio of 23.87, a P/E/G ratio of 14.42 and a beta of 1.01. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $124.53. The stock has a 50 day moving average of $111.38 and a 200-day moving average of $102.90.

PACCAR Cuts Dividend

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

About PACCAR

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.