Skandinaviska Enskilda Banken AB publ Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Skandinaviska Enskilda Banken AB publ boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 327,949 shares of the company’s stock after purchasing an additional 6,903 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.06% of PACCAR worth $33,998,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PCAR. Wellington Management Group LLP increased its position in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after buying an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of PACCAR by 47.8% in 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 purchasing an additional 3,296,146 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares during the period. JPMorgan Chase & Co. lifted its holdings in PACCAR by 49.6% during the 3rd 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in PACCAR by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock worth $364,690,000 after purchasing an additional 61,457 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR news, 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 completion of the transaction, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. 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 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is owned by corporate insiders.

PACCAR Trading Down 3.8 %

NASDAQ:PCAR opened at $98.42 on Friday. The company has a 50-day moving average price of $107.29 and a 200-day moving average price of $106.24. The stock has a market cap of $51.65 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 16.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Truist Financial increased their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup decreased 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. JPMorgan Chase & Co. increased their price objective on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Evercore ISI reduced their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

About PACCAR

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.