PACCAR Inc (NASDAQ:PCAR) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 158,366 shares of the company’s stock after purchasing an additional 400 shares during the quarter. State of Michigan Retirement System’s holdings in PACCAR were worth $16,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of PACCAR in the 4th quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in PACCAR in the fourth quarter valued at approximately $37,000. Regents Gate Capital LLP bought a new position in shares of PACCAR during the fourth quarter valued at approximately $44,000. Ashton Thomas Securities LLC acquired a new stake in shares of PACCAR during the 3rd quarter worth approximately $52,000. Finally, AdvisorNet Financial Inc lifted its holdings in shares of PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after purchasing an additional 391 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $101.48 on Wednesday. The stock has a market cap of $53.26 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 2.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock’s 50 day moving average price is $107.17 and its 200 day moving average price is $105.93.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 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%. Equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PCAR. Truist Financial upped their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup dropped their price objective 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. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.77.

PACCAR 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.