Avanza Fonder AB Buys Shares of 47,389 PACCAR Inc (NASDAQ:PCAR)

Avanza Fonder AB acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,389 shares of the company's stock, valued at approximately $4,929,000.

A number of other hedge funds also recently bought and sold shares of PCAR. Federated Hermes Inc. grew its holdings in PACCAR by 69.2% during the second quarter. Federated Hermes Inc. now owns 15,767 shares of the company's stock valued at $1,623,000 after purchasing an additional 6,448 shares during the period. Envestnet Asset Management Inc. grew its holdings in PACCAR by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 580,887 shares of the company's stock valued at $59,796,000 after purchasing an additional 16,225 shares during the period. Citizens Financial Group Inc. RI grew its holdings in PACCAR by 13.2% during the second quarter. Citizens Financial Group Inc. RI now owns 3,655 shares of the company's stock valued at $376,000 after purchasing an additional 425 shares during the period. Edgestream Partners L.P. grew its holdings in PACCAR by 252.0% during the second quarter. Edgestream Partners L.P. now owns 26,471 shares of the company's stock valued at $2,725,000 after purchasing an additional 18,951 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in PACCAR by 3.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 244,612 shares of the company's stock valued at $25,180,000 after purchasing an additional 9,030 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Trading Up 0.8 %

PCAR stock traded up $0.85 during midday trading on Friday, reaching $110.33. 1,981,144 shares of the company traded hands, compared to its average volume of 1,920,377. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The business has a 50 day moving average of $111.10 and a 200-day moving average of $104.03. The firm has a market capitalization of $57.85 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.72 and a beta of 0.93.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the business posted $2.34 earnings per share. The company's quarterly revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that PACCAR Inc will post 7.92 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is an increase from PACCAR's previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR's dividend payout ratio is presently 13.41%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PCAR. Jefferies Financial Group lowered PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Truist Financial upped their price objective on PACCAR from $110.00 to $112.00 and gave the stock a "hold" rating in a research note on Thursday. Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, Evercore ISI raised PACCAR from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, PACCAR currently has a consensus rating of "Hold" and an average price target of $120.13.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now owns 3,061 shares of the company's stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is currently owned by company insiders.

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.