PACCAR Inc (NASDAQ:PCAR) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,683 shares of the company’s stock after selling 2,309 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PACCAR were worth $7,456,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PCAR. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the 4th quarter valued at $37,000. Kestra Investment Management LLC purchased a new position in shares of PACCAR in the 4th quarter valued at $37,000. OFI Invest Asset Management purchased a new position in shares of PACCAR in the 4th quarter valued at $43,000. Finally, Atala Financial Inc purchased a new stake in PACCAR during the 4th quarter worth $43,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Up 0.2 %

NASDAQ PCAR opened at $92.04 on Tuesday. PACCAR Inc has a one year low of $85.05 and a one year high of $118.81. The company has a 50-day simple moving average of $97.24 and a 200-day simple moving average of $105.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a market capitalization of $48.32 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is currently 16.69%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Melius Research set a $120.00 price target on shares of PACCAR in a research note on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Morgan Stanley downgraded shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target on the stock. in a research note on Wednesday, April 16th. UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, Citigroup dropped their target price on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $108.59.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is 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.