Skandinaviska Enskilda Banken AB publ Sells 129,511 Shares of PACCAR Inc. (NASDAQ:PCAR)

Skandinaviska Enskilda Banken AB publ lowered its holdings in PACCAR Inc. (NASDAQ:PCAR) by 39.5% in the 1st quarter, HoldingsChannel reports. The firm owned 198,438 shares of the company’s stock after selling 129,511 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in PACCAR were worth $19,326,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after buying an additional 193 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR in the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. grew its position in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after buying an additional 350 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of PACCAR by 64.9% in the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after buying an additional 174 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 0.1%

PCAR stock opened at $101.57 on Friday. The firm’s fifty day simple moving average is $95.03 and its 200-day simple moving average is $98.35. The company has a market capitalization of $53.32 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 4.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.73 and a quick ratio of 2.19. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.13 EPS. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, August 14th. PACCAR’s dividend payout ratio (DPR) is currently 22.60%.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,239.92. This represents a 91.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pierre R. Breber acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director directly owned 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday. Evercore ISI cut their price objective on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, May 19th. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday. Truist Financial cut their price objective on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Citigroup lifted their price objective on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $106.45.

About PACCAR

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.