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

Nordea Investment Management AB lifted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 8.3% during the 3rd quarter, according to its most recent 13F filing 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCAR. JT Stratford LLC bought a new position in shares of PACCAR during the second quarter valued at $1,301,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of PACCAR by 77.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after purchasing an additional 103,664 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in PACCAR by 46.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after purchasing an additional 88,551 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new position in PACCAR in the third quarter valued at about $3,817,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in PACCAR by 77.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 228,946 shares of the company’s stock worth $22,510,000 after buying an additional 100,285 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PCAR. Wells Fargo & Company assumed coverage on PACCAR in a report on Thursday, November 13th. They issued a “positive” rating and a $106.00 target price on the stock. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. UBS Group set a $103.00 target price on PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $90.00 price target on shares of PACCAR in a report on Tuesday, October 21st. Finally, Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Two equities 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. According to data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $112.33.

PACCAR Trading Down 0.5%

Shares of PCAR opened at $121.36 on Friday. The stock’s fifty day simple moving average is $108.94 and its 200-day simple moving average is $102.00. The firm has a market capitalization of $63.74 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 15.03 and a beta of 1.01. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $122.65. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the business earned $1.85 earnings per share. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio is currently 25.83%.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

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.