Kentucky Retirement Systems Decreases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Kentucky Retirement Systems cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,024 shares of the company’s stock after selling 496 shares during the quarter. Kentucky Retirement Systems’ holdings in PACCAR were worth $3,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Golden State Wealth Management LLC bought a new position in PACCAR during the fourth quarter valued at $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR in the 4th quarter valued at about $37,000. Regents Gate Capital LLP purchased a new position in PACCAR in the fourth quarter worth about $44,000. Ashton Thomas Securities LLC bought a new stake in PACCAR during the third quarter worth approximately $52,000. Finally, AdvisorNet Financial Inc raised its position in PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after purchasing an additional 391 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $104.46 on Friday. The firm’s 50 day simple moving average is $107.50 and its 200-day simple moving average is $105.16. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The firm has a market cap of $54.77 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, equities analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

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

Insider Buying and Selling

In related news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 over the last three months. 2.02% of the stock is owned by company insiders.

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.