Swedbank AB Buys Shares of 302,088 PACCAR Inc (NASDAQ:PCAR)

Swedbank AB bought a new stake in PACCAR Inc (NASDAQ:PCAR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 302,088 shares of the company’s stock, valued at approximately $37,426,000. Swedbank AB owned about 0.06% of PACCAR as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its stake in shares of PACCAR by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after buying an additional 89,984 shares during the last quarter. Norges Bank acquired a new stake in shares of PACCAR in the fourth quarter worth $448,288,000. Capital International Investors lifted its stake in shares of PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after buying an additional 1,225,468 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PACCAR by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after buying an additional 54,273 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of PACCAR by 0.9% in the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after buying an additional 23,394 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Down 2.0 %

PCAR opened at $94.36 on Friday. The firm’s 50-day simple moving average is $104.27 and its 200-day simple moving average is $108.61. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.78. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The firm has a market cap of $49.47 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.49 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the previous year, the company posted $2.33 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that PACCAR Inc will post 8.11 EPS for the current fiscal year.

PACCAR Announces Dividend

The company 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 1.27%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.

Insider Buying and Selling

In related news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The disclosure for this sale can be found here. Insiders have sold a total of 72,874 shares of company stock worth $7,526,457 in the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PCAR shares. The Goldman Sachs Group boosted their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Raymond James started coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial dropped their target price on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus target price of $114.27.

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.