California Public Employees Retirement System Reduces Stock Position in PACCAR Inc (NASDAQ:PCAR)

California Public Employees Retirement System lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 3.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,006,507 shares of the company’s stock after selling 39,526 shares during the quarter. California Public Employees Retirement System’s holdings in PACCAR were worth $98,285,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of PACCAR by 18.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock worth $10,450,000 after acquiring an additional 16,360 shares during the period. Aigen Investment Management LP bought a new stake in shares of PACCAR in the third quarter worth approximately $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in PACCAR by 42.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock valued at $47,518,000 after buying an additional 166,628 shares during the period. Pacer Advisors Inc. grew its position in PACCAR by 29.6% during the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after buying an additional 16,390 shares during the period. Finally, Nilsine Partners LLC bought a new stake in PACCAR during the fourth quarter valued at approximately $1,337,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PCAR. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Evercore ISI lifted their price target on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Truist Financial started coverage on shares of PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 price target on the stock. Morgan Stanley started coverage on shares of PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 price target on the stock. Finally, 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 report on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.82.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was 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 directly owns 5,726 shares of the company’s stock, valued at $584,739.12. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock worth $15,834,812 over the last quarter. Insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.4 %

Shares of PCAR opened at $113.74 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The stock has a market capitalization of $59.60 billion, a PE ratio of 12.97, a P/E/G ratio of 1.70 and a beta of 0.92. The company’s fifty day moving average is $116.40 and its 200 day moving average is $101.52.

PACCAR (NASDAQ:PCAR) last posted 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 net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the previous year, the business posted $1.76 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, February 14th. 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.