Forsta AP Fonden Sells 83,200 Shares of PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Forsta AP Fonden reduced its stake in PACCAR Inc. by 45.5%, now holding 99,800 shares valued at approximately $9.7 million after selling 83,200 shares.
• PACCAR's CEO, R Preston Feight, sold 39,965 shares at an average price of $99.52, resulting in a significant decrease in ownership by 15.19%.
• The company announced a quarterly dividend of $0.33 per share, payable on September 4th, with a dividend yield of 1.4%.

Forsta AP Fonden decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 45.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,800 shares of the company's stock after selling 83,200 shares during the period. Forsta AP Fonden's holdings in PACCAR were worth $9,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCAR. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in PACCAR by 15.1% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock worth $77,404,000 after purchasing an additional 104,281 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of PACCAR by 62.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock valued at $3,533,000 after purchasing an additional 13,904 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of PACCAR by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock valued at $1,262,000 after purchasing an additional 4,429 shares during the last quarter. Moran Wealth Management LLC lifted its position in PACCAR by 28.8% during the 1st quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after acquiring an additional 52,525 shares during the last quarter. Finally, Stack Financial Management Inc acquired a new position in PACCAR during the 1st quarter worth $20,585,000. Institutional investors own 64.90% of the company's stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This represents 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.

PACCAR Price Performance

Shares of PCAR stock traded up $1.71 during trading hours on Wednesday, reaching $100.66. 2,504,070 shares of the company were exchanged, compared to its average volume of 2,905,286. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The stock's fifty day moving average is $95.94 and its two-hundred day moving average is $97.33. The company has a market cap of $52.86 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 3.90 and a beta of 0.91. 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 announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the business posted $2.13 earnings per share. PACCAR's revenue was down 15.7% compared to the same quarter last year. Sell-side analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio is currently 22.60%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research note on Monday, July 28th. Evercore ISI lowered their target price on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Royal Bank Of Canada reduced their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $107.77.

PACCAR Company 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.