E. Ohman J or Asset Management AB Reduces Holdings in PACCAR Inc. $PCAR

E. Ohman J or Asset Management AB decreased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,729 shares of the company’s stock after selling 6,661 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in PACCAR were worth $1,832,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Private Wealth Management Group LLC grew its stake in PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. Wealth Watch Advisors INC purchased a new position in PACCAR in the 3rd quarter worth approximately $32,000. True Wealth Design LLC boosted its holdings in shares of PACCAR by 61.1% during the 4th quarter. True Wealth Design LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 138 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of PACCAR during the 3rd quarter worth approximately $38,000. Finally, Westside Investment Management Inc. grew its position in shares of PACCAR by 100.0% in the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

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

Analyst Upgrades and Downgrades

PCAR has been the subject of several recent research reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Truist Financial upped their target price on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. raised their target price on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $116.18.

PACCAR Stock Performance

NASDAQ:PCAR opened at $115.80 on Wednesday. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two 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. The company has a 50 day moving average price of $122.38 and a 200 day moving average price of $110.05. The stock has a market capitalization of $60.94 billion, a P/E ratio of 25.68, a PEG ratio of 0.96 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the company earned $1.66 earnings per share. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. Equities research analysts forecast 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.