Andra AP fonden Sells 104,700 Shares of PACCAR Inc (NASDAQ:PCAR)

Andra AP fonden reduced its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 57.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,350 shares of the company's stock after selling 104,700 shares during the period. Andra AP fonden's holdings in PACCAR were worth $8,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. increased its position in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after buying an additional 1,164,692 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in PACCAR by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock valued at $364,690,000 after buying an additional 61,457 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on PCAR shares. Citigroup decreased their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Finally, Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and an average price target of $121.77.

PACCAR Price Performance

NASDAQ:PCAR traded down $4.17 during mid-day trading on Tuesday, hitting $106.39. The company's stock had a trading volume of 1,224,180 shares, compared to its average volume of 2,497,607. The company has a market capitalization of $55.84 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The stock has a fifty day moving average of $107.41 and a 200-day moving average of $106.26.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is 16.69%.

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.