Maryland State Retirement & Pension System Acquires 1,003 Shares of PACCAR Inc. $PCAR

Maryland State Retirement & Pension System raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,049 shares of the company’s stock after acquiring an additional 1,003 shares during the quarter. Maryland State Retirement & Pension System’s holdings in PACCAR were worth $2,381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PCAR. E Fund Management Hong Kong Co. Ltd. raised its holdings in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after acquiring an additional 240 shares during the period. Alpine Bank Wealth Management bought a new stake in PACCAR during the first quarter valued at about $29,000. Bayforest Capital Ltd raised its holdings in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after acquiring an additional 274 shares during the period. Accent Capital Management LLC bought a new stake in shares of PACCAR in the first quarter worth about $40,000. Finally, JFS Wealth Advisors LLC increased its holdings in shares of PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 174 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PCAR. Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. UBS Group raised PACCAR from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. JPMorgan Chase & Co. lifted their target price on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Finally, Truist Financial set a $97.00 target price on PACCAR and gave the stock a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.59.

PACCAR Stock Down 2.3%

Shares of NASDAQ:PCAR opened at $93.00 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The firm has a market capitalization of $48.83 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.88 and a beta of 0.94. The business has a 50 day simple moving average of $98.73 and a two-hundred day simple moving average of $95.55. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.PACCAR’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. On average, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR’s dividend payout ratio is currently 22.60%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

About PACCAR

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.