90,088 Shares in PACCAR Inc. $PCAR Acquired by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab bought a new stake in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, Holdings Channel.com reports. The fund bought 90,088 shares of the company’s stock, valued at approximately $10,821,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Danske Bank A S acquired a new position in PACCAR during the second quarter worth $44,682,000. Diversify Advisory Services LLC acquired a new stake in shares of PACCAR in the second quarter valued at $250,000. Wealthfront Advisers LLC acquired a new stake in shares of PACCAR in the second quarter valued at $12,467,000. Foster & Motley Inc. purchased a new stake in shares of PACCAR in the 2nd quarter valued at $6,364,000. Finally, JLB & Associates Inc. purchased a new stake in shares of PACCAR in the 2nd quarter valued at $2,190,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 1,970 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the sale, the chief financial officer directly owned 1,391 shares in the company, valued at approximately $184,307.50. This represents a 58.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on PCAR. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Wells Fargo & Company lifted their target price on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating and set a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Morgan Stanley set a $119.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Citigroup raised their price objective on shares of PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $131.70.

PACCAR Stock Down 2.2%

PACCAR stock opened at $128.02 on Wednesday. The firm has a market capitalization of $67.38 billion, a P/E ratio of 26.90, a P/E/G ratio of 1.04 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The stock’s fifty day simple moving average is $125.73 and its 200-day simple moving average is $121.76.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the business posted $1.37 earnings per share. PACCAR’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts expect that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.