PACCAR Inc (NASDAQ:PCAR) Holdings Raised by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 25,538.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,330 shares of the company’s stock after purchasing an additional 33,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PACCAR were worth $2,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PCAR. Symmetry Partners LLC grew its holdings in PACCAR by 18.1% in the 2nd quarter. Symmetry Partners LLC now owns 17,307 shares of the company’s stock worth $1,448,000 after buying an additional 2,651 shares in the last quarter. New England Research & Management Inc. increased its holdings in shares of PACCAR by 42.0% during the second quarter. New England Research & Management Inc. now owns 18,075 shares of the company’s stock valued at $1,512,000 after purchasing an additional 5,350 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of PACCAR by 50.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $44,720,000 after purchasing an additional 204,282 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in PACCAR in the first quarter worth about $612,000. Finally, Ontario Teachers Pension Plan Board grew its position in PACCAR by 36.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 4,639,752 shares of the company’s stock valued at $339,630,000 after buying an additional 1,246,422 shares in the last quarter. Institutional investors and hedge funds own 65.68% of the company’s stock.

PACCAR Price Performance

PACCAR stock traded up $1.95 during mid-day trading on Thursday, hitting $85.23. 483,028 shares of the company were exchanged, compared to its average volume of 2,833,425. PACCAR Inc has a 1-year low of $54.64 and a 1-year high of $90.05. The company has a quick ratio of 2.32, a current ratio of 2.57 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $85.08 and a 200 day moving average of $76.71. The company has a market capitalization of $44.56 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 0.97 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.15. The firm had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. PACCAR had a net margin of 11.20% and a return on equity of 29.75%. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm posted $1.38 EPS. As a group, sell-side analysts expect that PACCAR Inc will post 8.54 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.27%. PACCAR’s dividend payout ratio is currently 15.52%.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent research reports. Credit Suisse Group lifted their target price on PACCAR from $84.00 to $90.00 in a report on Wednesday, July 26th. Jefferies Financial Group upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Monday, July 17th. Raymond James upped their price objective on shares of PACCAR from $90.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 20th. StockNews.com started coverage on shares of PACCAR in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Citigroup upped their target price on PACCAR from $88.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.57.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 6,000 shares of PACCAR stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $85.19, for a total transaction of $511,140.00. Following the completion of the sale, the vice president now owns 3,230 shares in the company, valued at approximately $275,163.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Todd R. Hubbard sold 6,000 shares of PACCAR stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $85.19, for a total transaction of $511,140.00. Following the transaction, the vice president now owns 3,230 shares in the company, valued at approximately $275,163.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 56,059 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $86.07, for a total value of $4,824,998.13. Following the sale, the chief executive officer now directly owns 128,105 shares of the company’s stock, valued at $11,025,997.35. The disclosure for this sale can be found here. In the last three months, insiders sold 86,059 shares of company stock valued at $7,401,818. 2.06% of the stock is currently owned by insiders.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.