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

Louisiana State Employees Retirement System lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,500 shares of the company’s stock after selling 1,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in PACCAR were worth $6,858,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Capital International Investors increased its stake in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in PACCAR during the 2nd quarter worth approximately $88,437,000. Dorsey & Whitney Trust CO LLC raised its holdings in PACCAR by 3,636.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock valued at $67,696,000 after buying an additional 531,794 shares during the period. TD Asset Management Inc lifted its position in PACCAR by 24.3% during the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after buying an additional 504,346 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in PACCAR during the second quarter worth approximately $51,277,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PCAR. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday. Morgan Stanley cut their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday. Raymond James initiated coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial increased their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus target price of $114.18.

PACCAR Stock Performance

Shares of PCAR opened at $105.90 on Friday. The firm has a market cap of $55.51 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.62 and a beta of 0.91. The company has a quick ratio of 2.54, a current ratio of 1.91 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $99.18 and its two-hundred day moving average is $103.42. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The business’s revenue was down 5.2% compared to the same quarter last year. Analysts forecast that PACCAR Inc will post 8.07 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.