DNB Asset Management AS Raises Position in PACCAR Inc. $PCAR

DNB Asset Management AS increased its stake in PACCAR Inc. (NASDAQ:PCAR) by 23.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,626 shares of the company’s stock after buying an additional 38,457 shares during the quarter. DNB Asset Management AS’s holdings in PACCAR were worth $18,976,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares in the last quarter. PFG Advisors increased its stake in PACCAR by 4.3% during the 1st quarter. PFG Advisors now owns 4,999 shares of the company’s stock worth $487,000 after buying an additional 206 shares during the period. Oak Thistle LLC acquired a new position in PACCAR in the 1st quarter worth $485,000. Wedbush Securities Inc. lifted its holdings in PACCAR by 5.2% in the 1st quarter. Wedbush Securities Inc. now owns 14,007 shares of the company’s stock worth $1,364,000 after buying an additional 693 shares in the last quarter. Finally, AE Wealth Management LLC boosted its position in PACCAR by 15.1% in the 1st quarter. AE Wealth Management LLC now owns 27,585 shares of the company’s stock valued at $2,686,000 after buying an additional 3,626 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of PCAR opened at $102.99 on Friday. The firm has a market cap of $54.09 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 4.11 and a beta of 0.95. The stock has a 50 day moving average of $98.01 and a 200-day moving average of $96.91. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the company posted $1.85 earnings per share. The business’s revenue was down 20.7% on a year-over-year basis. As a group, analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio is 25.83%.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PCAR shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 target price on shares of PACCAR in a research report on Tuesday, October 21st. Zacks Research downgraded PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Wall Street Zen lowered PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Truist Financial raised their price target on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley set a $90.00 price target on shares of PACCAR in a report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average target price of $106.54.

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.