Alaska Permanent Fund Corp Grows Stake in PACCAR Inc (NASDAQ:PCAR)

Alaska Permanent Fund Corp boosted its position in PACCAR Inc (NASDAQ:PCAR) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,958 shares of the company’s stock after purchasing an additional 1,856 shares during the period. Alaska Permanent Fund Corp’s holdings in PACCAR were worth $13,862,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc increased its stake in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. OFI Invest Asset Management purchased a new position in PACCAR during the third quarter worth $26,000. ST Germain D J Co. Inc. increased its position 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 buying an additional 130 shares in the last quarter. Arlington Trust Co LLC purchased a new position in PACCAR during the third quarter worth $30,000. Finally, ORG Partners LLC increased its position in PACCAR by 6,200.0% during the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after buying an additional 372 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the transaction, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock worth $15,834,812 over the last quarter. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. TD Cowen raised their price target on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. raised their price objective on PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Evercore ISI raised their price objective on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Finally, Morgan Stanley assumed coverage on PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Trading Down 1.7 %

PACCAR stock traded down $1.93 during midday trading on Thursday, reaching $111.81. The stock had a trading volume of 305,346 shares, compared to its average volume of 2,289,922. The stock’s 50-day simple moving average is $116.40 and its 200 day simple moving average is $101.52. The stock has a market capitalization of $58.59 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.70 and a beta of 0.92. PACCAR Inc has a twelve month low of $68.40 and a twelve month 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 issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 earnings per share. Analysts expect that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio 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.