PACCAR Inc (NASDAQ:PCAR) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 19.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,539 shares of the company's stock after selling 2,982 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in PACCAR were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares during the last quarter. Fisher Asset Management LLC increased its stake in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock worth $511,254,000 after acquiring an additional 89,245 shares during the last quarter. JPMorgan Chase & Co. increased its stake in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after acquiring an additional 1,164,692 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after acquiring an additional 178,813 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction 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 owns 206,129 shares of the company's stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were 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 directly owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. Corporate insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Jefferies Financial Group lowered PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Finally, Evercore ISI lowered their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of "Moderate Buy" and an average price target of $121.77.

PACCAR Stock Performance

NASDAQ:PCAR traded down $2.00 during trading hours on Friday, reaching $104.46. 2,978,755 shares of the stock were exchanged, compared to its average volume of 2,311,501. The stock has a market capitalization of $54.77 billion, a P/E ratio of 13.21, a P/E/G ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm has a 50 day simple moving average of $107.67 and a 200-day simple moving average of $105.07.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is presently 16.69%.

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.