47,389 Shares in PACCAR Inc (NASDAQ:PCAR) Acquired by Avanza Fonder AB

Avanza Fonder AB bought a new stake in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 47,389 shares of the company’s stock, valued at approximately $4,929,000.

Other hedge funds also recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new position in PACCAR in the fourth quarter valued at about $1,984,000. Sanctuary Advisors LLC grew its position in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares during the period. Mengis Capital Management Inc. increased its stake in PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC raised its holdings in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 in the last quarter. 2.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research analyst reports. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Truist Financial upped their price objective on PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a research report on Thursday. Citigroup cut their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $120.13.

PACCAR Stock Up 0.6 %

Shares of NASDAQ PCAR opened at $110.24 on Friday. The company has a market cap of $57.80 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.72 and a beta of 0.93. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a 50-day moving average price of $111.24 and a two-hundred day moving average price of $103.93.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 EPS. As a group, analysts forecast that PACCAR Inc will post 7.92 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. 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 currently 13.41%.

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.