PACCAR Inc. $PCAR Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its stake in PACCAR Inc. by 3.7% during the second quarter, now owning approximately 0.07% of the company, valued at $35.18 million.
• PACCAR's earnings report showed earnings of $1.37 per share, exceeding analysts' expectations of $1.28, despite a 15.7% revenue decline year-over-year.
• The company announced a quarterly dividend of $0.33 per share, representing an annualized dividend of $1.32, with a current yield of 1.3%.

Swedbank AB raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 370,125 shares of the company's stock after purchasing an additional 13,240 shares during the period. Swedbank AB owned 0.07% of PACCAR worth $35,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FORA Capital LLC acquired a new position in PACCAR during the first quarter worth approximately $597,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in PACCAR by 15.1% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock worth $77,404,000 after buying an additional 104,281 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in PACCAR by 62.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock worth $3,533,000 after buying an additional 13,904 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in PACCAR by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after buying an additional 4,429 shares during the period. Finally, Moran Wealth Management LLC grew its stake in PACCAR by 28.8% during the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after buying an additional 52,525 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Down 2.0%

PCAR traded down $1.94 during trading on Monday, hitting $97.52. The company had a trading volume of 1,180,029 shares, compared to its average volume of 2,851,017. The company has a market cap of $51.21 billion, a PE ratio of 16.69, a P/E/G ratio of 3.99 and a beta of 0.94. The business has a 50-day moving average of $98.81 and a 200-day moving average of $95.91. 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 Inc. has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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 firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm's quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.13 earnings per share. As a group, analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR's dividend payout ratio is currently 22.60%.

Insider Buying and Selling at PACCAR

In related news, 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 directly owned 468 shares of the company's stock, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. The trade was a 15.19% 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

PCAR has been the subject of several research reports. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup boosted their price objective on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Finally, UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.68.

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.