PACCAR Inc (NASDAQ:PCAR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 736,969 shares of the company’s stock after selling 5,800 shares during the period. New York State Common Retirement Fund’s holdings in PACCAR were worth $76,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in PACCAR in the 4th quarter valued at approximately $1,851,000. Key Financial Inc increased its holdings in PACCAR by 37.5% in the 4th quarter. Key Financial Inc now owns 664 shares of the company’s stock valued at $69,000 after purchasing an additional 181 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in PACCAR in the 4th quarter valued at approximately $37,000. Venturi Wealth Management LLC increased its holdings in PACCAR by 12.3% in the 4th quarter. Venturi Wealth Management LLC now owns 6,479 shares of the company’s stock valued at $674,000 after purchasing an additional 712 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in PACCAR by 10.7% in the 4th quarter. CIBC Asset Management Inc now owns 180,027 shares of the company’s stock valued at $18,726,000 after purchasing an additional 17,444 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In other news, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 159,547 shares of company stock valued at $17,625,128. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $107.21 on Thursday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The stock has a market cap of $56.21 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.75 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. The firm has a fifty day moving average price of $107.80 and a 200 day moving average price of $105.06.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results 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%. As a group, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 16.69%.

Analyst Ratings Changes

Several equities analysts have commented on PCAR shares. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.77.

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.