321,681 Shares in PACCAR Inc. $PCAR Bought by Danske Bank A S

Danske Bank A S bought a new position in PACCAR Inc. (NASDAQ:PCAR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 321,681 shares of the company’s stock, valued at approximately $31,628,000.

A number of other large investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of PACCAR by 15.4% in the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after buying an additional 1,812 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of PACCAR by 7.0% in the second quarter. Foundations Investment Advisors LLC now owns 3,532 shares of the company’s stock worth $336,000 after buying an additional 232 shares during the last quarter. SG Americas Securities LLC grew its position in PACCAR by 39.6% during the second quarter. SG Americas Securities LLC now owns 21,068 shares of the company’s stock valued at $2,003,000 after buying an additional 5,979 shares during the period. Finally, Cetera Investment Advisers increased its holdings in PACCAR by 2.7% during the second quarter. Cetera Investment Advisers now owns 48,282 shares of the company’s stock valued at $4,590,000 after buying an additional 1,255 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PCAR has been the topic of several recent research reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Morgan Stanley set a $109.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. raised their target price on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Citigroup lifted their target price on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Finally, Truist Financial boosted their price target on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $116.18.

Insiders Place Their Bets

In other news, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the transaction, the executive vice president directly owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. The trade was a 69.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 9,258 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total value of $1,200,762.60. Following the sale, the chief executive officer owned 258,566 shares of the company’s stock, valued at $33,536,010.20. This trade represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 133,105 shares of company stock worth $16,869,046. Insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.6%

Shares of PCAR opened at $114.69 on Thursday. The company’s fifty day simple moving average is $122.80 and its 200-day simple moving average is $109.55. The company has a market cap of $60.31 billion, a P/E ratio of 25.43, a P/E/G ratio of 0.97 and a beta of 1.03. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $131.88. 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 (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 earnings per share. As a group, analysts expect that PACCAR Inc. will post 7.57 EPS for the current 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.