Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 10,400 Shares of PACCAR Inc (NASDAQ:PCAR)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,061 shares of the company’s stock after selling 10,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in PACCAR were worth $11,136,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR during the 4th quarter worth approximately $37,000. Kestra Investment Management LLC bought a new position in PACCAR during the fourth quarter valued at $37,000. Regents Gate Capital LLP purchased a new stake in PACCAR in the fourth quarter worth $44,000. Ashton Thomas Securities LLC bought a new stake in shares of PACCAR in the third quarter valued at $52,000. Finally, AdvisorNet Financial Inc lifted its position in shares of PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup decreased their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group lowered shares of 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average price target of $121.77.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Down 1.9 %

Shares of PCAR opened at $104.46 on Monday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a market capitalization of $54.82 billion, a P/E ratio of 13.21, a P/E/G ratio of 2.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm’s 50 day simple moving average is $107.50 and its 200 day simple moving average is $105.34.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share 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 paid a dividend of $3.00 per share. The ex-dividend date of this dividend 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.