Retirement Systems of Alabama Cuts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Retirement Systems of Alabama decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 113,517 shares of the company’s stock after selling 947 shares during the period. Retirement Systems of Alabama’s holdings in PACCAR were worth $11,808,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PCAR. UMB Bank n.a. raised its position in shares of PACCAR by 1.8% during the 3rd quarter. UMB Bank n.a. now owns 33,288 shares of the company’s stock valued at $3,285,000 after buying an additional 601 shares in the last quarter. Hudson Capital Management LLC raised its position in PACCAR by 3.6% during the third quarter. Hudson Capital Management LLC now owns 44,652 shares of the company’s stock valued at $4,406,000 after purchasing an additional 1,535 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of PACCAR by 23.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 95,397 shares of the company’s stock valued at $9,413,000 after purchasing an additional 18,309 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after purchasing an additional 97 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of PACCAR by 130.5% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 669,058 shares of the company’s stock valued at $66,023,000 after purchasing an additional 378,810 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $106.02 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average price is $109.71 and its 200-day moving average price is $104.57. The firm has a market cap of $55.59 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.87 and a beta of 0.92. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

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

PACCAR Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on PCAR shares. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Citigroup decreased their price objective 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. Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average price target of $121.95.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is currently owned by company insiders.

PACCAR Company 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.