Zurcher Kantonalbank Zurich Cantonalbank raised its position in PACCAR Inc. (NASDAQ:PCAR) by 162.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 169,526 shares of the company’s stock after buying an additional 104,987 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PACCAR were worth $11,195,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of PCAR. Glen Harbor Capital Management LLC boosted its position in PACCAR by 7.6% in the first quarter. Glen Harbor Capital Management LLC now owns 9,072 shares of the company’s stock worth $610,000 after buying an additional 644 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in PACCAR by 39.1% in the first quarter. Janney Montgomery Scott LLC now owns 14,047 shares of the company’s stock worth $944,000 after buying an additional 3,951 shares during the last quarter. Russell Investments Group Ltd. boosted its position in PACCAR by 10.9% in the first quarter. Russell Investments Group Ltd. now owns 503,472 shares of the company’s stock worth $33,830,000 after buying an additional 49,350 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in PACCAR by 10.2% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 28,730 shares of the company’s stock worth $1,930,000 after buying an additional 2,671 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in PACCAR by 106.7% in the first quarter. Canada Pension Plan Investment Board now owns 176,111 shares of the company’s stock worth $11,835,000 after buying an additional 90,895 shares during the last quarter. Hedge funds and other institutional investors own 62.69% of the company’s stock.

PACCAR Inc. (NASDAQ:PCAR) opened at 65.16 on Wednesday. The company has a 50 day moving average price of $66.90 and a 200-day moving average price of $66.27. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.32. The company has a market capitalization of $22.90 billion, a PE ratio of 17.44 and a beta of 1.14.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. Analysts expect that PACCAR Inc. will post $3.99 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.53%. PACCAR’s payout ratio is currently 26.74%.

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A number of equities analysts have issued reports on PCAR shares. Bank of America Corporation cut PACCAR from a “buy” rating to a “neutral” rating and cut their price target for the stock from $78.00 to $70.00 in a report on Thursday, May 11th. Jefferies Group LLC set a $77.00 price target on PACCAR and gave the stock a “buy” rating in a report on Sunday, May 28th. UBS AG upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $66.00 to $75.00 in a report on Tuesday, June 6th. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Tuesday, June 6th. Finally, Goldman Sachs Group, Inc. (The) upgraded PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.72.

In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the transaction, the insider now directly owns 20,800 shares in the company, valued at approximately $1,412,112. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.64% of the company’s stock.

PACCAR Company Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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