Nordea Investment Management AB Sells 1,486,303 Shares of PACCAR Inc (NASDAQ:PCAR)

Nordea Investment Management AB trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 94.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,788 shares of the company's stock after selling 1,486,303 shares during the quarter. Nordea Investment Management AB's holdings in PACCAR were worth $8,398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC grew its position in shares of PACCAR by 3.1% in the 2nd quarter. Private Advisor Group LLC now owns 21,661 shares of the company's stock valued at $2,230,000 after buying an additional 658 shares during the last quarter. Acadian Asset Management LLC raised its holdings in PACCAR by 472.7% during the 2nd quarter. Acadian Asset Management LLC now owns 16,252 shares of the company's stock worth $1,671,000 after purchasing an additional 13,414 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR in the 2nd quarter worth approximately $36,000. Prudential PLC boosted its stake in shares of PACCAR by 173.9% in the 2nd quarter. Prudential PLC now owns 21,170 shares of the company's stock valued at $2,179,000 after purchasing an additional 13,440 shares during the last quarter. Finally, AGF Management Ltd. increased its position in shares of PACCAR by 6.3% during the second quarter. AGF Management Ltd. now owns 21,755 shares of the company's stock worth $2,239,000 after buying an additional 1,280 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PCAR shares. Truist Financial boosted their target price on shares of PACCAR from $107.00 to $110.00 and gave the company a "hold" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas raised PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Finally, Citigroup raised their price objective on shares of PACCAR from $120.00 to $125.00 and gave the stock a "neutral" rating in a research report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, PACCAR has an average rating of "Hold" and a consensus target price of $118.50.

PACCAR Stock Down 1.8 %

Shares of NASDAQ:PCAR traded down $1.92 during midday trading on Friday, hitting $106.58. 2,559,930 shares of the company's stock were exchanged, compared to its average volume of 2,304,755. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market cap of $55.88 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. The stock has a 50 day moving average price of $111.26 and a 200-day moving average price of $103.83.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping 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 firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period in the previous year, the company posted $2.34 EPS. The company's revenue for the quarter was down 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is 14.75%.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,191 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now owns 3,061 shares of the company's stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock valued at $6,358,552 in the last three months. 2.02% of the stock is currently owned by insiders.

PACCAR Company 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.