Handelsbanken Fonder AB Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Handelsbanken Fonder AB grew its stake in PACCAR Inc (NASDAQ:PCAR) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,706 shares of the company’s stock after buying an additional 5,943 shares during the period. Handelsbanken Fonder AB’s holdings in PACCAR were worth $17,255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in shares of PACCAR in the third quarter worth $26,000. AdvisorNet Financial Inc lifted its holdings in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. ST Germain D J Co. Inc. lifted its holdings in PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Arlington Trust Co LLC purchased a new position in PACCAR during the third quarter valued at $30,000. Finally, NBC Securities Inc. purchased a new position in PACCAR during the third quarter valued at $34,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the transaction, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the transaction, the chief executive officer now owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,496 shares of company stock worth $15,834,812. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $112.58 on Tuesday. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50. The stock has a market cap of $58.99 billion, a PE ratio of 12.84, a P/E/G ratio of 1.67 and a beta of 0.92. The firm has a 50-day simple moving average of $116.10 and a two-hundred day simple moving average of $101.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business earned $1.76 earnings per share. As a group, analysts forecast that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

Analysts Set New Price Targets

PCAR has been the topic of several recent analyst reports. Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $84.00 to $97.00 in a report on Friday, January 19th. Morgan Stanley initiated coverage on shares of PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target on the stock. TD Cowen raised their price target on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group raised their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.82.

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.