Danske Bank A S Takes $31.63 Million Position in PACCAR Inc. $PCAR

Danske Bank A S purchased a new position in PACCAR Inc. (NASDAQ:PCAR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 321,681 shares of the company’s stock, valued at approximately $31,628,000. Danske Bank A S owned 0.06% of PACCAR as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares during the period. Focus Partners Wealth lifted its position in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,812 shares during the period. Foundations Investment Advisors LLC lifted its position in PACCAR by 7.0% during the 2nd quarter. Foundations Investment Advisors LLC now owns 3,532 shares of the company’s stock valued at $336,000 after acquiring an additional 232 shares during the period. SG Americas Securities LLC boosted its stake in PACCAR by 39.6% during the second quarter. SG Americas Securities LLC now owns 21,068 shares of the company’s stock worth $2,003,000 after acquiring an additional 5,979 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in PACCAR by 2.7% during the second quarter. Cetera Investment Advisers now owns 48,282 shares of the company’s stock worth $4,590,000 after acquiring an additional 1,255 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of analyst reports. Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Citigroup lifted their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus price target of $116.18.

PACCAR Stock Down 0.6%

Shares of PACCAR stock opened at $114.69 on Thursday. The company has a 50-day simple moving average of $122.80 and a two-hundred day simple moving average of $109.55. The stock has a market capitalization of $60.31 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.66 EPS. On average, analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 9,258 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the transaction, the chief executive officer owned 258,566 shares in the company, valued at approximately $33,536,010.20. This represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares in the company, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 133,105 shares of company stock valued at $16,869,046. Insiders own 2.02% of the company’s stock.

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.