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

Nordea Investment Management AB grew its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,451 shares of the company’s stock after purchasing an additional 13,668 shares during the period. Nordea Investment Management AB’s holdings in PACCAR were worth $13,487,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Impact Capital Partners LLC purchased a new position in PACCAR during the fourth quarter worth about $217,000. GAMMA Investing LLC raised its holdings in shares of PACCAR by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 12,078 shares of the company’s stock valued at $1,323,000 after acquiring an additional 2,099 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of PACCAR in the 3rd quarter valued at about $137,000. AIA Group Ltd boosted its position in shares of PACCAR by 60.6% during the 3rd quarter. AIA Group Ltd now owns 26,040 shares of the company’s stock valued at $2,560,000 after acquiring an additional 9,822 shares during the last quarter. Finally, Severin Investments LLC bought a new stake in shares of PACCAR during the 3rd quarter valued at about $431,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 34,656 shares in the company, valued at approximately $4,433,195.52. The trade was a 69.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin D. Baney sold 9,672 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the completion of the sale, the executive vice president directly owned 12,592 shares of the company’s stock, valued at $1,593,265.76. This trade represents a 43.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 133,105 shares of company stock valued at $16,869,046. Insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Truist Financial lifted their target price on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, January 28th. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. 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. Finally, Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $116.18.

PACCAR Price Performance

Shares of PACCAR stock opened at $115.80 on Wednesday. The firm has a market capitalization of $60.94 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.03. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88. The business’s 50-day moving average price is $122.38 and its 200-day moving average price is $110.05.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.PACCAR’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS. Sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

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.