State of New Jersey Common Pension Fund D Has $19.96 Million Stake in PACCAR Inc (NASDAQ:PCAR)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,866 shares of the company’s stock after selling 1,019 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PACCAR were worth $19,958,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PCAR. Creative Planning grew its holdings in PACCAR by 2.6% in the 3rd quarter. Creative Planning now owns 74,672 shares of the company’s stock valued at $7,369,000 after buying an additional 1,920 shares during the last quarter. Global Retirement Partners LLC increased its position in PACCAR by 4.5% during the third quarter. Global Retirement Partners LLC now owns 5,573 shares of the company’s stock worth $550,000 after acquiring an additional 241 shares during the period. Bleakley Financial Group LLC raised its stake in PACCAR by 1.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,721 shares of the company’s stock valued at $861,000 after purchasing an additional 109 shares during the last quarter. Stratos Wealth Advisors LLC increased its holdings in shares of PACCAR by 3.8% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,245 shares of the company’s stock worth $419,000 after purchasing an additional 155 shares during the period. Finally, Blue Trust Inc. raised its position in shares of PACCAR by 172.6% during the third quarter. Blue Trust Inc. now owns 3,816 shares of the company’s stock valued at $393,000 after buying an additional 2,416 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PCAR. Truist Financial raised their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup cut their price target 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 upgraded PACCAR from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

PACCAR Stock Up 0.7 %

Shares of PCAR opened at $105.96 on Tuesday. The firm has a 50 day simple moving average of $108.32 and a two-hundred day simple moving average of $104.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a market cap of $55.55 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts forecast that PACCAR Inc will post 7.6 EPS for the current fiscal year.

PACCAR Increases Dividend

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

Insider Activity at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,871 shares of company stock worth $14,586,333 over the last ninety days. Insiders own 2.02% of the company’s stock.

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.