South Dakota Investment Council Decreases Position in PACCAR Inc (NASDAQ:PCAR)

South Dakota Investment Council cut its stake in PACCAR Inc (NASDAQ:PCAR) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,565 shares of the company’s stock after selling 3,200 shares during the quarter. South Dakota Investment Council’s holdings in PACCAR were worth $2,399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FORVIS Wealth Advisors LLC lifted its stake in PACCAR by 0.5% in the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock valued at $2,158,000 after buying an additional 109 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in PACCAR by 0.9% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock worth $1,231,000 after purchasing an additional 124 shares in the last quarter. Blue Trust Inc. lifted its stake in PACCAR by 39.3% in the 4th quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after purchasing an additional 127 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in PACCAR by 0.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 35,869 shares of the company’s stock worth $3,050,000 after purchasing an additional 142 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCAR has been the topic of a number of research reports. Evercore ISI raised their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. The Goldman Sachs Group lifted their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. TD Cowen lifted their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Finally, Truist Financial began coverage on shares of PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 price target on the stock. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.82.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kevin D. Baney sold 7,203 shares of PACCAR stock in a transaction on Friday, January 26th. The stock was sold at an average price of $103.03, for a total transaction of $742,125.09. Following the sale, the senior vice president now directly owns 6,621 shares of the company’s stock, valued at $682,161.63. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock worth $15,834,812 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $113.74 on Thursday. The company has a fifty day simple moving average of $116.40 and a two-hundred day simple moving average of $101.52. The company has a market cap of $59.60 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.70 and a beta of 0.92. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.76 earnings per share. As a group, equities analysts anticipate that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

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.