Avanza Fonder AB Cuts Position in PACCAR Inc (NASDAQ:PCAR)

Avanza Fonder AB lowered its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 9.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 42,763 shares of the company's stock after selling 4,626 shares during the period. Avanza Fonder AB's holdings in PACCAR were worth $4,237,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after acquiring an additional 3,364,650 shares during the period. Geode Capital Management LLC lifted its position in shares of PACCAR by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after acquiring an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of PACCAR by 5.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock valued at $1,119,997,000 after acquiring an additional 572,231 shares during the period. FMR LLC lifted its position in shares of PACCAR by 1.9% during the 4th quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after acquiring an additional 167,165 shares during the period. Finally, Northern Trust Corp lifted its position in shares of PACCAR by 8.5% during the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after acquiring an additional 565,967 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity

In other news, Director Pierre R. Breber purchased 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director now directly owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Melius Research set a $120.00 price target on shares of PACCAR in a research note on Tuesday, March 18th. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their price target for the company from $108.00 to $78.00 in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Citigroup decreased their price target on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, PACCAR has an average rating of "Hold" and a consensus price target of $104.14.

PACCAR Stock Performance

PCAR stock traded down $0.24 during midday trading on Thursday, reaching $93.64. 1,537,123 shares of the company's stock traded hands, compared to its average volume of 2,735,722. The company has a 50-day moving average price of $91.97 and a two-hundred day moving average price of $101.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81. The firm has a market capitalization of $49.16 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm's revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 earnings per share. As a group, equities analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.41%. PACCAR's dividend payout ratio (DPR) is currently 20.00%.

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.