Livforsakringsbolaget Skandia Omsesidigt Purchases 13,258 Shares of PACCAR Inc (NASDAQ:PCAR)

Livforsakringsbolaget Skandia Omsesidigt boosted its position in PACCAR Inc (NASDAQ:PCAR) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,988 shares of the company’s stock after purchasing an additional 13,258 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PACCAR were worth $7,124,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of PACCAR by 2.0% in the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after acquiring an additional 698,784 shares during the last quarter. State Street Corp grew its stake in shares of PACCAR by 49.0% in the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock worth $1,562,477,000 after acquiring an additional 7,020,923 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of PACCAR by 53.3% in the first quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock worth $858,948,000 after acquiring an additional 4,082,677 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of PACCAR by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after acquiring an additional 23,865 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of PACCAR by 6.0% in the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after acquiring an additional 316,001 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PCAR shares. Morgan Stanley started coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price on the stock. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. The Goldman Sachs Group increased their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday. Evercore ISI increased their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and a consensus price target of $110.82.

Insider Transactions at PACCAR

In other news, 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 value of $493,137.48. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $584,739.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin D. Baney sold 7,203 shares of PACCAR stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the sale, the senior vice president now directly owns 6,621 shares in the company, valued at approximately $682,161.63. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock valued at $15,834,812 over the last quarter. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

NASDAQ:PCAR traded down $1.61 on Wednesday, hitting $115.93. The stock had a trading volume of 2,458,323 shares, compared to its average volume of 2,279,816. The stock has a market cap of $60.75 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The business’s 50-day simple moving average is $115.48 and its two-hundred day simple moving average is $100.46. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.76 earnings per share. As a group, research analysts predict that PACCAR Inc will post 8.16 earnings per share for the current 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 $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

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.