Danske Bank A S Boosts Holdings in PACCAR Inc. $PCAR

Danske Bank A S boosted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 2.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 328,340 shares of the company’s stock after purchasing an additional 6,659 shares during the period. Danske Bank A S’s holdings in PACCAR were worth $35,957,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its stake in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth grew its holdings in PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after acquiring an additional 1,812 shares during the period. Treasurer of the State of North Carolina raised its position in PACCAR by 2.3% during the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after acquiring an additional 5,327 shares in the last quarter. Ieq Capital LLC lifted its holdings in PACCAR by 11.5% in the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after acquiring an additional 3,858 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in PACCAR in the second quarter valued at approximately $81,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PCAR. BNP Paribas Exane initiated coverage on shares of PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a report on Wednesday. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Finally, Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $117.83.

Insider Activity at PACCAR

In other news, EVP Kevin D. Baney sold 9,672 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the completion of the sale, the executive vice president owned 12,592 shares of the company’s stock, valued at $1,593,265.76. The trade was a 43.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 111,664 shares of company stock worth $14,244,394 in the last ninety days. 1.99% of the stock is owned by company insiders.

PACCAR Stock Down 2.3%

PACCAR stock opened at $116.09 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.79. The stock has a market capitalization of $61.09 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.10 and a beta of 1.02. The business has a 50 day simple moving average of $120.92 and a 200-day simple moving average of $114.22. PACCAR Inc. has a 12 month low of $88.35 and a 12 month high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter last year, the firm posted $1.46 EPS. The business’s revenue was down 9.8% on a year-over-year basis. On average, analysts anticipate that PACCAR Inc. will post 5.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s payout ratio is 28.09%.

About PACCAR

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.