PACCAR Inc (NASDAQ:PCAR) Stock Position Decreased by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,006,507 shares of the company’s stock after selling 39,526 shares during the period. California Public Employees Retirement System owned approximately 0.19% of PACCAR worth $98,285,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in shares of PACCAR during the third quarter worth $26,000. AdvisorNet Financial Inc raised its holdings in shares of PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in shares of PACCAR during the third quarter worth $30,000. Finally, NBC Securities Inc. purchased a new stake in shares of PACCAR during the third quarter worth $34,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial started coverage on PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective for the company. JPMorgan Chase & Co. raised their target price on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Morgan Stanley started coverage on PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price on the stock. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and raised their target price for the company from $84.00 to $97.00 in a report on Friday, January 19th. Finally, The Goldman Sachs Group raised their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Stock Up 0.4 %

NASDAQ PCAR opened at $113.74 on Thursday. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $116.40 and its two-hundred day moving average is $101.52. The company has a market capitalization of $59.60 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.70 and a beta of 0.92. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period in the previous year, the business earned $1.76 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the transaction, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 in the last quarter. Insiders own 2.02% of the company’s stock.

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.