Forsta AP Fonden Has $18.21 Million Position in PACCAR Inc (NASDAQ:PCAR)

Forsta AP Fonden increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 184,500 shares of the company’s stock after purchasing an additional 19,300 shares during the period. Forsta AP Fonden’s holdings in PACCAR were worth $18,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Mediolanum International Funds Ltd raised its holdings in PACCAR by 157.8% in the 3rd quarter. Mediolanum International Funds Ltd now owns 127,280 shares of the company’s stock valued at $12,469,000 after acquiring an additional 77,917 shares in the last quarter. Mcdaniel Terry & Co. raised its holdings in PACCAR by 0.7% in the 3rd quarter. Mcdaniel Terry & Co. now owns 385,745 shares of the company’s stock valued at $38,065,000 after acquiring an additional 2,559 shares in the last quarter. Bogart Wealth LLC raised its holdings in PACCAR by 21.7% in the 3rd quarter. Bogart Wealth LLC now owns 140,098 shares of the company’s stock valued at $13,825,000 after acquiring an additional 24,938 shares in the last quarter. Pinnacle West Asset Management Inc. raised its holdings in PACCAR by 11.6% in the 3rd quarter. Pinnacle West Asset Management Inc. now owns 5,060 shares of the company’s stock valued at $499,000 after acquiring an additional 525 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its holdings in PACCAR by 27.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 8,690 shares of the company’s stock valued at $858,000 after acquiring an additional 1,883 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is owned by corporate insiders.

PACCAR Trading Up 1.0 %

NASDAQ PCAR opened at $105.90 on Friday. The business’s 50-day moving average price is $99.39 and its two-hundred day moving average price is $103.20. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The firm has a market capitalization of $55.51 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The business’s revenue was down 5.2% on a year-over-year basis. On average, analysts expect that PACCAR Inc will post 8.07 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR’s payout ratio is 12.45%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $114.18.

PACCAR Company 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.