Teacher Retirement System of Texas Trims Holdings in PACCAR Inc. $PCAR

Teacher Retirement System of Texas trimmed its holdings in PACCAR Inc. (NASDAQ:PCAR) by 24.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 199,461 shares of the company’s stock after selling 64,849 shares during the period. Teacher Retirement System of Texas’ holdings in PACCAR were worth $18,961,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hazlett Burt & Watson Inc. raised its stake in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its stake in shares of PACCAR by 1.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock worth $917,000 after purchasing an additional 116 shares during the last quarter. Applied Capital LLC FL raised its stake in shares of PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company’s stock worth $2,455,000 after purchasing an additional 124 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of PACCAR by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company’s stock worth $4,390,000 after purchasing an additional 130 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its position in PACCAR by 5.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company’s stock worth $228,000 after buying an additional 130 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $99.17 on Wednesday. The company has a market cap of $52.07 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 4.23 and a beta of 0.94. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The company has a 50-day simple moving average of $98.56 and a 200-day simple moving average of $95.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 earnings per share. On average, equities analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR’s payout ratio is currently 25.83%.

Analyst Ratings Changes

Several research analysts recently issued reports on PCAR shares. Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. UBS Group set a $103.00 target price on PACCAR and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Truist Financial increased their price objective on PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Argus upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, July 28th. Finally, Wall Street Zen cut shares of PACCAR from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus target price of $106.59.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is currently owned by corporate insiders.

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.