New York State Common Retirement Fund Decreases Holdings in PACCAR Inc (NASDAQ:PCAR)

New York State Common Retirement Fund cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 604,313 shares of the company’s stock after selling 46,030 shares during the quarter. New York State Common Retirement Fund’s holdings in PACCAR were worth $59,011,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its position in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of PACCAR during the 3rd quarter valued at $26,000. ST Germain D J Co. Inc. increased its position in shares of PACCAR by 61.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in shares of PACCAR during the 3rd quarter valued at $30,000. Finally, ORG Partners LLC increased its position in shares of PACCAR by 6,200.0% during the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after purchasing an additional 372 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several research reports. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Truist Financial initiated coverage on PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 price target for the company. TD Cowen increased their price target on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group increased their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price target on PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.82.

PACCAR Stock Up 0.7 %

Shares of NASDAQ PCAR opened at $113.32 on Wednesday. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50. The business has a 50-day simple moving average of $116.26 and a two-hundred day simple moving average of $101.43. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The company has a market cap of $59.38 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.69 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.76 EPS. Research analysts anticipate that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Insider Activity

In other news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,589,751.69. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Harrie Schippers sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is currently owned by insiders.

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.