Handelsbanken Fonder AB Purchases 5,943 Shares of PACCAR Inc (NASDAQ:PCAR)

Handelsbanken Fonder AB grew its position in PACCAR Inc (NASDAQ:PCAR) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 176,706 shares of the company’s stock after purchasing an additional 5,943 shares during the quarter. Handelsbanken Fonder AB’s holdings in PACCAR were worth $17,255,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its holdings in PACCAR by 18.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock worth $10,450,000 after purchasing an additional 16,360 shares during the period. Aigen Investment Management LP acquired a new position in shares of PACCAR during the third quarter valued at about $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of PACCAR by 42.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock valued at $47,518,000 after buying an additional 166,628 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of PACCAR by 29.6% during the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after buying an additional 16,390 shares during the last quarter. Finally, Nilsine Partners LLC acquired a new position in shares of PACCAR during the fourth quarter valued at about $1,337,000. 64.90% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO R Preston Feight sold 27,320 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PACCAR news, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $584,739.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PCAR. Evercore ISI lifted their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $84.00 to $97.00 in a report on Friday, January 19th. Morgan Stanley started coverage on shares of PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective for the company. Truist Financial started coverage on shares of PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 price target on the stock. Finally, UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.82.

PACCAR Price Performance

PCAR stock opened at $112.58 on Tuesday. The stock has a market cap of $58.99 billion, a PE ratio of 12.84, a P/E/G ratio of 1.67 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The firm has a 50 day simple moving average of $116.10 and a two-hundred day simple moving average of $101.25.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the firm earned $1.76 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, analysts predict that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

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.