Handelsbanken Fonder AB raised its holdings in PACCAR Inc (NASDAQ:PCAR – Free Report) by 11.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 99,966 shares of the company’s stock after acquiring an additional 10,398 shares during the period. Handelsbanken Fonder AB’s holdings in PACCAR were worth $10,398,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Raymond James & Associates lifted its position in PACCAR by 15.2% during the third quarter. Raymond James & Associates now owns 195,504 shares of the company’s stock worth $19,292,000 after buying an additional 25,867 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of PACCAR by 5.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,297 shares of the company’s stock valued at $325,000 after acquiring an additional 185 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of PACCAR by 35.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 8,693 shares of the company’s stock worth $858,000 after acquiring an additional 2,269 shares during the period. Private Advisor Group LLC boosted its position in shares of PACCAR by 20.6% in the third quarter. Private Advisor Group LLC now owns 26,118 shares of the company’s stock worth $2,577,000 after acquiring an additional 4,457 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in PACCAR by 7,540.3% in the third quarter. International Assets Investment Management LLC now owns 289,034 shares of the company’s stock valued at $28,522,000 after purchasing an additional 285,251 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.
Insider Buying and Selling
In related news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. Company insiders own 2.02% of the company’s stock.
PACCAR Price Performance
PACCAR (NASDAQ:PCAR – Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.
PACCAR Increases Dividend
The company also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on PCAR shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Evercore ISI cut their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.77.
View Our Latest Analysis on PCAR
PACCAR 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.
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