Retirement Systems of Alabama Has $11.90 Million Position in PACCAR Inc (NASDAQ:PCAR)

Retirement Systems of Alabama increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 0.1% in the second quarter, Holdings Channel.com reports. The firm owned 115,621 shares of the company’s stock after buying an additional 171 shares during the quarter. Retirement Systems of Alabama’s holdings in PACCAR were worth $11,902,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PCAR. Federated Hermes Inc. boosted its stake in shares of PACCAR by 125.5% during the fourth quarter. Federated Hermes Inc. now owns 8,643 shares of the company’s stock valued at $844,000 after purchasing an additional 4,810 shares in the last quarter. RWA Wealth Partners LLC acquired a new stake in PACCAR during the 4th quarter worth approximately $236,000. Linden Thomas Advisory Services LLC bought a new stake in PACCAR during the 4th quarter worth approximately $258,000. Atria Wealth Solutions Inc. grew its holdings in PACCAR by 0.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 74,633 shares of the company’s stock worth $7,520,000 after acquiring an additional 491 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in PACCAR by 9.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,794 shares of the company’s stock valued at $1,249,000 after acquiring an additional 1,121 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent research reports. Evercore ISI decreased their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Truist Financial cut their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $112.73.

PACCAR Trading Up 1.2 %

Shares of PCAR stock traded up $1.18 during trading hours on Friday, hitting $96.46. 1,771,613 shares of the company were exchanged, compared to its average volume of 2,634,815. The company has a 50 day simple moving average of $100.31 and a two-hundred day simple moving average of $108.01. The firm has a market cap of $50.56 billion, a P/E ratio of 10.01, a P/E/G ratio of 1.47 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the prior year, the company earned $2.33 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. Equities analysts anticipate that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.02% of the stock is currently owned by corporate insiders.

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.