Nordea Investment Management AB Has $9.53 Million Stock Position in PACCAR Inc. $PCAR

Nordea Investment Management AB grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 23.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,480 shares of the company's stock after purchasing an additional 18,767 shares during the quarter. Nordea Investment Management AB's holdings in PACCAR were worth $9,534,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. increased its position in shares of PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Applied Capital LLC FL boosted its stake in shares of PACCAR by 0.5% during the 1st quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock worth $2,455,000 after acquiring an additional 124 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of PACCAR by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock worth $4,390,000 after acquiring an additional 130 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of PACCAR by 5.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock worth $228,000 after acquiring an additional 130 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in shares of PACCAR by 64.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

PCAR opened at $97.48 on Tuesday. The business has a fifty day simple moving average of $98.48 and a 200 day simple moving average of $95.48. The company has a market capitalization of $51.19 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The firm's quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.13 EPS. Research analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR's dividend payout ratio is presently 22.60%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 owned 468 shares of the company's stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PCAR shares. Zacks Research downgraded PACCAR from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a research note on Monday, July 28th. Finally, Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, PACCAR has an average rating of "Moderate Buy" and a consensus price target of $108.14.

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.

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