Danica Pension Livsforsikringsaktieselskab Invests $10.82 Million in PACCAR Inc. $PCAR

Danica Pension Livsforsikringsaktieselskab bought a new stake in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 90,088 shares of the company’s stock, valued at approximately $10,821,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators boosted its position in PACCAR by 9.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after acquiring an additional 80 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in PACCAR by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock valued at $2,869,000 after acquiring an additional 81 shares during the last quarter. CYBER HORNET ETFs LLC raised its holdings in PACCAR by 6.2% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after acquiring an additional 87 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in PACCAR by 3.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock worth $317,000 after purchasing an additional 87 shares in the last quarter. Finally, MCF Advisors LLC lifted its stake in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP William Lance Walters sold 1,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 50,975 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares of the company’s stock, valued at $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,842 shares of company stock worth $7,565,677 over the last ninety days. Company insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PCAR shares. Sanford C. Bernstein restated an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Wells Fargo & Company lifted their price objective on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Citigroup boosted their price objective on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised their target price on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $131.70.

PACCAR Stock Performance

PACCAR stock opened at $128.02 on Wednesday. The firm has a 50 day simple moving average of $125.73 and a 200-day simple moving average of $121.76. The stock has a market cap of $67.38 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the firm posted $1.37 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts expect that PACCAR Inc. will post 5.85 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is 29.41%.

About PACCAR

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.