Swedbank AB Has $34.56 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Swedbank AB boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 332,222 shares of the company’s stock after acquiring an additional 896 shares during the quarter. Swedbank AB’s holdings in PACCAR were worth $34,558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCAR. Smith Group Asset Management LLC bought a new position in shares of PACCAR in the fourth quarter valued at $624,000. Twelve Points Wealth Management LLC lifted its position in PACCAR by 16.1% in the 4th quarter. Twelve Points Wealth Management LLC now owns 13,987 shares of the company’s stock valued at $1,455,000 after acquiring an additional 1,944 shares in the last quarter. BSW Wealth Partners boosted its stake in PACCAR by 2.5% during the 4th quarter. BSW Wealth Partners now owns 4,663 shares of the company’s stock valued at $485,000 after purchasing an additional 112 shares during the last quarter. Bensler LLC bought a new stake in PACCAR during the 4th quarter worth approximately $207,000. Finally, Perigon Wealth Management LLC raised its stake in shares of PACCAR by 140.6% in the fourth quarter. Perigon Wealth Management LLC now owns 6,782 shares of the company’s stock worth $742,000 after purchasing an additional 3,963 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PCAR shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup cut their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.32.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $112.51 on Friday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The stock has a fifty day moving average of $110.47 and a 200-day moving average of $104.49. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock has a market cap of $58.99 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last posted its 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 27.24% and a net margin of 13.51%. Equities research analysts anticipate that PACCAR Inc will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is presently 16.69%.

About PACCAR

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.