PACCAR Inc (NASDAQ:PCAR) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,500 shares of the company’s stock after selling 3,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in PACCAR were worth $6,917,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in PACCAR during the fourth quarter worth approximately $37,000. Regents Gate Capital LLP acquired a new stake in shares of PACCAR in the 4th quarter worth $44,000. Grove Bank & Trust increased its stake in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares during the last quarter. Sander Capital Advisors Inc. purchased a new position in shares of PACCAR during the 3rd quarter worth $50,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of PACCAR during the 3rd quarter valued at about $52,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PCAR. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.95.

Insider Buying and Selling at PACCAR

In other news, 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 completion of the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,871 shares of company stock valued at $14,586,333 in the last 90 days. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $106.09 on Wednesday. The business’s fifty day moving average price is $109.29 and its 200 day moving average price is $104.70. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $55.62 billion, a PE ratio of 13.41, a P/E/G ratio of 2.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, sell-side analysts anticipate that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 15.17%.

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.