Handelsbanken Fonder AB Trims Holdings in PACCAR Inc (NASDAQ:PCAR)

Handelsbanken Fonder AB reduced its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,816 shares of the company’s stock after selling 2,150 shares during the period. Handelsbanken Fonder AB’s holdings in PACCAR were worth $9,524,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. increased its stake in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after purchasing an additional 6,494 shares in the last quarter. LPL Financial LLC boosted its position in shares of PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after purchasing an additional 12,143 shares in the last quarter. American Century Companies Inc. increased its position in PACCAR by 15.8% during the 4th quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock valued at $65,675,000 after buying an additional 86,215 shares in the last quarter. Natixis Advisors LLC increased its position in PACCAR by 20.8% during the 4th quarter. Natixis Advisors LLC now owns 1,042,761 shares of the company’s stock valued at $108,468,000 after buying an additional 179,577 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its position in PACCAR by 32.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 31,980 shares of the company’s stock valued at $3,313,000 after buying an additional 7,833 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR opened at $93.64 on Friday. The company’s 50-day simple moving average is $91.97 and its two-hundred day simple moving average is $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. The stock has a market capitalization of $49.16 billion, a P/E ratio of 11.84, a P/E/G ratio of 2.77 and a beta of 0.95. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81.

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

PACCAR Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Evercore ISI dropped their price target 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. Citigroup reduced their price objective 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. UBS Group cut shares of PACCAR from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Finally, Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $104.14.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber purchased 5,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, the director now directly owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.02% of the company’s stock.

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.