PACCAR Inc. $PCAR Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,783 shares of the company’s stock after purchasing an additional 8,303 shares during the period. Nordea Investment Management AB’s holdings in PACCAR were worth $10,770,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PCAR. Tokio Marine Asset Management Co. Ltd. raised its stake in PACCAR by 7.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,138 shares of the company’s stock worth $1,783,000 after acquiring an additional 1,295 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in PACCAR by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,410,729 shares of the company’s stock valued at $138,703,000 after acquiring an additional 9,720 shares during the period. First Horizon Corp bought a new position in shares of PACCAR during the third quarter valued at approximately $161,000. MGO One Seven LLC bought a new position in shares of PACCAR during the third quarter valued at approximately $395,000. Finally, Meeder Asset Management Inc. raised its position in shares of PACCAR by 13,936.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,685 shares of the company’s stock worth $952,000 after purchasing an additional 9,616 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $90.00 target price on shares of PACCAR in a research note on Tuesday, October 21st. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of PACCAR in a report on Friday, December 5th. Finally, Wells Fargo & Company initiated coverage on shares of PACCAR in a research note on Thursday, November 13th. They set a “positive” rating and a $106.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $112.33.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. This trade represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR opened at $121.36 on Friday. The firm has a market capitalization of $63.74 billion, a PE ratio of 23.75, a P/E/G ratio of 15.03 and a beta of 1.01. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $108.94 and a 200 day moving average price of $102.00. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $122.65.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company’s revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.85 earnings per share. On average, sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.