PACCAR Inc. $PCAR Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,788 shares of the company’s stock after selling 642 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PACCAR were worth $16,710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. increased its position in PACCAR by 4.2% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,401,009 shares of the company’s stock worth $133,180,000 after purchasing an additional 55,830 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its holdings in shares of PACCAR by 10.0% in the 2nd quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 2,200 shares of the company’s stock worth $209,000 after acquiring an additional 200 shares during the period. Catalyst Capital Advisors LLC grew its holdings in shares of PACCAR by 15.4% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 1,681 shares of the company’s stock worth $160,000 after acquiring an additional 224 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of PACCAR by 1.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 220,055 shares of the company’s stock worth $20,918,000 after acquiring an additional 3,987 shares during the period. Finally, Forum Financial Management LP grew its holdings in shares of PACCAR by 31.3% in the 2nd quarter. Forum Financial Management LP now owns 13,908 shares of the company’s stock worth $1,322,000 after acquiring an additional 3,312 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PCAR shares. Wall Street Zen cut PACCAR from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. upped their price target on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a report on Tuesday. Evercore ISI set a $114.00 price target on PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Finally, Zacks Research lowered PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $106.59.

PACCAR Trading Up 0.8%

Shares of PACCAR stock opened at $100.13 on Friday. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The firm has a market cap of $52.58 billion, a PE ratio of 19.59, a P/E/G ratio of 4.15 and a beta of 0.94. The business’s fifty day moving average is $98.52 and its two-hundred day moving average is $95.77. The company has a quick ratio of 2.80, a current ratio of 1.82 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same period in the prior year, the company earned $1.85 EPS. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. Analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio is presently 25.83%.

Insider Activity at PACCAR

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 completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.02% of the stock is currently owned by insiders.

PACCAR 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.