61,300 Shares in PACCAR Inc. $PCAR Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in PACCAR Inc. (NASDAQ:PCAR) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 61,300 shares of the company’s stock, valued at approximately $7,080,000.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares during the last quarter. Focus Partners Wealth increased its stake in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after purchasing an additional 5,327 shares in the last quarter. Ieq Capital LLC raised its holdings in PACCAR by 11.5% in the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of PACCAR during the second quarter valued at approximately $81,000. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 4.0%

PACCAR stock opened at $121.68 on Friday. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $131.88. The company has a market cap of $64.04 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.09 and a beta of 0.98. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $117.01 and a two-hundred day simple moving average of $118.40.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. Analysts predict that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is 29.79%.

Analyst Ratings Changes

A number of analysts have commented on PCAR shares. BNP Paribas Exane started coverage on PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price for the company. Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. Citigroup reaffirmed a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Truist Financial boosted their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and an average target price of $122.00.

About PACCAR

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.