Nordea Investment Management AB Buys 13,668 Shares of PACCAR Inc. $PCAR

Nordea Investment Management AB boosted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.6% in the 4th quarter, HoldingsChannel reports. The fund owned 122,451 shares of the company’s stock after buying an additional 13,668 shares during the quarter. Nordea Investment Management AB’s holdings in PACCAR were worth $13,487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Wealth Management Group LLC boosted its stake in shares of PACCAR by 293.1% during the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the period. Wealth Watch Advisors INC bought a new position in shares of PACCAR in the third quarter worth approximately $32,000. AlphaQuest LLC purchased a new position in shares of PACCAR in the third quarter worth $38,000. Westside Investment Management Inc. raised its holdings in PACCAR by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after buying an additional 216 shares during the last quarter. Finally, Rothschild Investment LLC raised its holdings in PACCAR by 121.4% during the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock valued at $81,000 after buying an additional 454 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PCAR. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Truist Financial upped their price objective on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.18.

PACCAR Stock Performance

NASDAQ:PCAR opened at $115.80 on Wednesday. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $122.38 and its 200 day simple moving average is $110.05. The stock has a market cap of $60.94 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.03. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same period in the prior year, the business earned $1.66 EPS. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

Insider Activity at PACCAR

In related news, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the transaction, the executive vice president directly owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This represents a 69.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the completion of the transaction, the vice president directly owned 6,274 shares of the company’s stock, valued at approximately $768,125.82. The trade was a 66.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 133,105 shares of company stock valued at $16,869,046 over the last three months. Corporate insiders own 2.02% of the company’s stock.

PACCAR Company Profile

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.