PACCAR Inc (NASDAQ:PCAR) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in PACCAR during the 4th quarter valued at $37,000. Regents Gate Capital LLP acquired a new stake in PACCAR during the 4th quarter valued at $44,000. Grove Bank & Trust boosted its holdings in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock worth $46,000 after purchasing an additional 103 shares during the last quarter. Sander Capital Advisors Inc. acquired a new stake in shares of PACCAR during the third quarter worth $50,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of PACCAR during the third quarter worth $52,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Royal Bank of Canada restated a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Truist Financial raised their price objective on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Evercore ISI raised PACCAR from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and an average target price of $121.95.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction dated 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 sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 130,871 shares of company stock valued at $14,586,333 over the last three months. 2.02% of the stock is owned by company insiders.

PACCAR Stock Up 0.7 %

NASDAQ:PCAR traded up $0.70 during mid-day trading on Friday, hitting $105.96. The company had a trading volume of 1,849,815 shares, compared to its average volume of 2,268,529. The business has a fifty day simple moving average of $108.32 and a 200-day simple moving average of $104.79. 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 1 year low of $90.04 and a 1 year high of $125.50. The firm has a market capitalization of $55.55 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts forecast that PACCAR Inc will post 7.6 earnings per share 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 given a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is 15.17%.

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.