New York State Common Retirement Fund Has $59.01 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

New York State Common Retirement Fund cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 604,313 shares of the company’s stock after selling 46,030 shares during the period. New York State Common Retirement Fund owned about 0.12% of PACCAR worth $59,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its stake in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of PACCAR in the third quarter valued at $26,000. ST Germain D J Co. Inc. grew its stake in shares of PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 130 shares in the last quarter. Arlington Trust Co LLC bought a new position in shares of PACCAR in the third quarter valued at $30,000. Finally, ORG Partners LLC grew its stake in shares of PACCAR by 6,200.0% in the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after buying an additional 372 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCAR. The Goldman Sachs Group raised their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Truist Financial assumed coverage on shares of PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective for the company. Evercore ISI lifted their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Morgan Stanley assumed coverage on shares of PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

Insider Activity

In other news, SVP Kevin D. Baney sold 7,203 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the sale, the senior vice president now owns 6,621 shares of the company’s stock, valued at $682,161.63. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Kevin D. Baney sold 7,203 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the transaction, the senior vice president now owns 6,621 shares of the company’s stock, valued at $682,161.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of the business’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 completion of the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is owned by company insiders.

PACCAR Trading Up 0.7 %

Shares of PACCAR stock opened at $113.32 on Wednesday. The firm has a 50-day moving average of $116.26 and a 200-day moving average of $101.43. The stock has a market cap of $59.38 billion, a PE ratio of 12.92, a PEG ratio of 1.69 and a beta of 0.92. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. 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 (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. PACCAR’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.76 earnings per share. As a group, sell-side analysts forecast that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. PACCAR’s payout ratio is presently 12.31%.

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.