Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Stake in PACCAR Inc (NASDAQ:PCAR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 111,482 shares of the company’s stock after selling 2,636 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PACCAR were worth $11,596,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new position in PACCAR during the 4th quarter worth $1,984,000. Cullen Frost Bankers Inc. grew its position in PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after purchasing an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC grew its position in PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC boosted its holdings in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after acquiring an additional 89,245 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PCAR. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup lowered their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. UBS Group downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and lowered their target price for the company from $124.00 to $108.00 in a report on Tuesday. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 28,676 shares of PACCAR 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 completion of the sale, 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 filing with the SEC, which is available through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR opened at $97.11 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market cap of $50.96 billion, a P/E ratio of 12.28, a PEG ratio of 2.77 and a beta of 0.91. The company has a 50-day moving average of $106.29 and a two-hundred day moving average of $106.40. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its 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%. As a group, research analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is presently 16.69%.

PACCAR Company 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.