E. Ohman J or Asset Management AB Decreases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

E. Ohman J or Asset Management AB trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 20.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,140 shares of the company’s stock after selling 1,860 shares during the period. E. Ohman J or Asset Management AB’s holdings in PACCAR were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PCAR. Quarry LP bought a new stake in PACCAR during the second quarter valued at approximately $26,000. New Covenant Trust Company N.A. bought a new stake in PACCAR during the first quarter valued at approximately $27,000. Meeder Asset Management Inc. grew its position in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in PACCAR during the second quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC grew its position in PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after buying an additional 244 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Evercore ISI dropped their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Citigroup upped their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley dropped their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $114.18.

PACCAR Price Performance

PCAR stock opened at $105.90 on Friday. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The company’s fifty day moving average price is $99.39 and its 200-day moving average price is $103.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 1.91. The company has a market capitalization of $55.51 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, equities analysts anticipate that PACCAR Inc will post 8.07 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.02% of the company’s stock.

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.