Louisiana State Employees Retirement System Trims Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Louisiana State Employees Retirement System trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of PACCAR during the second quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new position in PACCAR in the 1st quarter valued at $27,000. Meeder Asset Management Inc. grew its position in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in PACCAR during the 2nd quarter worth $36,000. Finally, Fortitude Family Office LLC lifted its stake in shares of PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PCAR. Deutsche Bank Aktiengesellschaft cut their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI reduced their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Citigroup lifted their price target on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Truist Financial boosted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $114.18.

PACCAR Trading Up 1.0 %

Shares of PACCAR stock opened at $105.90 on Friday. The business has a 50 day moving average price of $99.18 and a 200 day moving average price of $103.42. The company has a market capitalization of $55.51 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.62 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.91 and a quick ratio of 2.54. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is 12.45%.

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.