Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 10,400 Shares of PACCAR Inc (NASDAQ:PCAR)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 8.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 107,061 shares of the company’s stock after selling 10,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in PACCAR were worth $11,136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after buying an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after acquiring an additional 3,296,146 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after acquiring an additional 89,245 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PCAR. JPMorgan Chase & Co. upped their price target on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. 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. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last quarter. 2.02% of the stock is owned by insiders.

PACCAR Trading Down 1.9 %

NASDAQ:PCAR opened at $104.46 on Monday. The firm has a market capitalization of $54.82 billion, a P/E ratio of 13.21, a PEG ratio of 2.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company’s 50-day simple moving average is $107.50 and its 200 day simple moving average is $105.34.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS 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%. As a group, analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

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.