MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Makes New $29.88 Million Investment in PACCAR Inc (NASDAQ:PCAR)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in PACCAR Inc (NASDAQ:PCAR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 290,248 shares of the company’s stock, valued at approximately $29,878,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned about 0.06% of PACCAR as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of PCAR. Savant Capital LLC raised its holdings in PACCAR by 55.6% in the fourth quarter. Savant Capital LLC now owns 9,864 shares of the company’s stock worth $963,000 after buying an additional 3,524 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $1,329,000. Robertson Stephens Wealth Management LLC purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $201,000. Natixis Advisors L.P. raised its holdings in shares of PACCAR by 50.0% during the fourth quarter. Natixis Advisors L.P. now owns 287,213 shares of the company’s stock valued at $28,046,000 after purchasing an additional 95,768 shares during the last quarter. Finally, Summit Global Investments purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $215,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Citigroup decreased their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Evercore ISI cut their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.73.

PACCAR Price Performance

Shares of PCAR traded up $1.53 during mid-day trading on Friday, reaching $96.18. The stock had a trading volume of 2,352,432 shares, compared to its average volume of 2,518,820. The firm has a market cap of $50.41 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.49 and a beta of 0.92. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The business has a fifty day moving average of $99.10 and a 200 day moving average of $107.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 earnings per share. Equities analysts predict that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.02% of the company’s stock.

PACCAR Company 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.