Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Position in PACCAR Inc (NASDAQ:PCAR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,482 shares of the company’s stock after selling 2,636 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PACCAR were worth $11,596,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new stake in shares of PACCAR in the 4th quarter valued at approximately $1,984,000. Cullen Frost Bankers Inc. grew its stake in shares of PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after buying an additional 6,494 shares during the period. Sanctuary Advisors LLC grew its stake in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after buying an additional 5,871 shares during the period. Insight Wealth Strategies LLC grew its stake in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after buying an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $97.11 on Friday. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company’s 50 day moving average is $106.29 and its two-hundred day moving average is $106.40. The firm has a market cap of $50.96 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PCAR shares. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Melius Research upgraded shares of PACCAR to a “strong-buy” rating in a report on Tuesday. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $118.23.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last ninety days. Insiders own 2.02% of the company’s stock.

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.