Danica Pension Livsforsikringsaktieselskab Purchases New Shares in PACCAR Inc. $PCAR

Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 80,287 shares of the company’s stock, valued at approximately $9,273,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. Wellington Management Group LLP raised its stake in PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after buying an additional 3,597,283 shares in the last quarter. State Street Corp raised its stake in PACCAR by 0.4% in the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares in the last quarter. Geode Capital Management LLC raised its stake in PACCAR by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares in the last quarter. Finally, Norges Bank purchased a new stake in PACCAR in the fourth quarter worth about $727,745,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 3.8%

NASDAQ:PCAR opened at $131.11 on Thursday. The firm has a market capitalization of $69.00 billion, a P/E ratio of 27.90, a PEG ratio of 1.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. PACCAR Inc. has a one year low of $92.25 and a one year high of $131.88. The company’s 50-day simple moving average is $118.20 and its 200 day simple moving average is $120.02.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts forecast that PACCAR Inc. will post 5.66 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is 29.79%.

Analyst Upgrades and Downgrades

PCAR has been the topic of several research reports. Morgan Stanley lifted their price objective on PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Citigroup restated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Truist Financial lifted their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.18.

PACCAR Profile

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.