E. Ohman J or Asset Management AB Decreases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

E. Ohman J or Asset Management AB decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 20.7% during the third quarter, Holdings Channel.com reports. The firm owned 7,140 shares of the company’s stock after selling 1,860 shares during the period. E. Ohman J or Asset Management AB’s holdings in PACCAR were worth $705,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PCAR. Quarry LP purchased a new stake in shares of PACCAR in the second quarter valued at $26,000. New Covenant Trust Company N.A. purchased a new stake in shares of PACCAR in the first quarter valued at $27,000. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PACCAR in the second quarter valued at $36,000. Finally, Fortitude Family Office LLC raised its stake in shares of PACCAR by 200.0% in the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent analyst reports. Truist Financial increased their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday. Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $114.18.

PACCAR Stock Up 1.0 %

Shares of PACCAR stock opened at $105.90 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.91 and a quick ratio of 2.54. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The firm’s 50-day moving average is $99.39 and its two-hundred day moving average is $103.31. The stock has a market cap of $55.51 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.62 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the prior year, the business earned $2.34 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, research analysts expect that PACCAR Inc will post 8.07 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

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.