Livforsakringsbolaget Skandia Omsesidigt Buys 18,309 Shares of PACCAR Inc (NASDAQ:PCAR)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in PACCAR Inc (NASDAQ:PCAR) by 23.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,397 shares of the company’s stock after purchasing an additional 18,309 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PACCAR were worth $9,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCAR. Quarry LP acquired a new stake in PACCAR during the second quarter worth about $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR during the 1st quarter worth approximately $27,000. Riverview Trust Co bought a new stake in shares of PACCAR during the first quarter valued at approximately $29,000. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Finally, Rise Advisors LLC bought a new position in PACCAR in the first quarter worth $31,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PCAR shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI cut their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial cut their target price on PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $114.00.

PACCAR Price Performance

PCAR opened at $106.80 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The stock has a market capitalization of $55.99 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. The company’s 50 day simple moving average is $96.64 and its 200-day simple moving average is $104.40. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.33 earnings per share. Sell-side analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. PACCAR’s payout ratio is presently 12.71%.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Profile

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.