State of Alaska Department of Revenue Sells 4,185 Shares of PACCAR Inc. $PCAR

State of Alaska Department of Revenue lessened its position in PACCAR Inc. (NASDAQ:PCAR) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,413 shares of the company’s stock after selling 4,185 shares during the quarter. State of Alaska Department of Revenue’s holdings in PACCAR were worth $5,739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC lifted its holdings in PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 211 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in PACCAR during the 3rd quarter valued at about $32,000. AlphaQuest LLC bought a new stake in PACCAR during the 3rd quarter valued at about $38,000. True Wealth Design LLC lifted its holdings in PACCAR by 61.1% during the 4th quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after buying an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in PACCAR by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after buying an additional 216 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the sale, the executive vice president owned 34,656 shares in the company, valued at approximately $4,433,195.52. The trade was a 69.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brice J. Poplawski sold 2,200 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the sale, the chief financial officer owned 903 shares of the company’s stock, valued at approximately $117,760.23. This represents a 70.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 133,105 shares of company stock worth $16,869,046. 1.99% of the stock is owned by corporate insiders.

PACCAR Trading Down 1.5%

NASDAQ:PCAR opened at $125.43 on Wednesday. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The firm has a market cap of $66.01 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.06 and a beta of 1.06. The firm has a 50-day simple moving average of $121.54 and a 200-day simple moving average of $112.17.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the business posted $1.66 EPS. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. Equities analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

Analyst Ratings Changes

PCAR has been the subject of a number of research analyst reports. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Truist Financial lifted their price objective on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $117.42.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.