South Dakota Investment Council Has $2.40 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

South Dakota Investment Council lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 11.5% during the fourth quarter, Holdings Channel.com reports. The firm 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 quarter.

Other hedge funds have also bought and sold shares of the company. FORVIS Wealth Advisors LLC increased its stake in PACCAR by 0.5% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock valued at $2,158,000 after purchasing an additional 109 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of PACCAR by 0.9% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock worth $1,231,000 after acquiring an additional 124 shares in the last quarter. Blue Trust Inc. increased its position in shares of PACCAR by 39.3% during the fourth quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after acquiring an additional 127 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in 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 purchasing an additional 130 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in PACCAR by 0.4% during the third 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 during the last quarter. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PCAR shares. Evercore ISI boosted their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. 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. The Goldman Sachs Group boosted their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Eight research 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. According to MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price of $110.82.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $584,739.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,496 shares of company stock valued at $15,834,812. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $113.74 on Thursday. The stock has a market capitalization of $59.60 billion, a P/E ratio of 12.97, a PEG ratio of 1.70 and a beta of 0.92. 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 firm’s 50 day moving average is $116.40 and its 200 day moving average is $101.52. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. PACCAR’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 EPS. On average, sell-side analysts anticipate that PACCAR Inc will post 8.21 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were issued 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 presently 12.31%.

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.