Louisiana State Employees Retirement System Decreases Stake in PACCAR Inc (NASDAQ:PCAR)

Louisiana State Employees Retirement System cut its stake in PACCAR Inc (NASDAQ:PCAR) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,500 shares of the company’s stock after selling 3,000 shares during the period. Louisiana State Employees Retirement System’s holdings in PACCAR were worth $6,917,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PCAR. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR during the fourth quarter worth $37,000. Regents Gate Capital LLP acquired a new stake in PACCAR during the 4th quarter worth about $44,000. Grove Bank & Trust grew its stake in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the last quarter. Sander Capital Advisors Inc. acquired a new position in shares of PACCAR in the third quarter valued at about $50,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of PACCAR in the third quarter worth about $52,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $106.09 on Wednesday. The stock has a market capitalization of $55.62 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 2.79 and a beta of 0.92. The stock has a 50-day moving average of $109.29 and a 200 day moving average of $104.70. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts anticipate that PACCAR Inc will post 7.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed 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. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 15.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PCAR. JPMorgan Chase & Co. upped their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial increased their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.95.

Insider Activity

In other news, CEO R Preston Feight sold 25,200 shares of the firm’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 value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,871 shares of company stock worth $14,586,333 over the last 90 days. 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.