California Public Employees Retirement System Sells 71,837 Shares of PACCAR Inc (NASDAQ:PCAR)

California Public Employees Retirement System trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,036,543 shares of the company's stock after selling 71,837 shares during the quarter. California Public Employees Retirement System owned 0.20% of PACCAR worth $107,821,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Everence Capital Management Inc. purchased a new stake in shares of PACCAR in the fourth quarter worth about $1,984,000. Cullen Frost Bankers Inc. lifted its stake in PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after purchasing an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock valued at $2,962,000 after purchasing an additional 5,871 shares during the period. LPL Financial LLC grew its position in shares of PACCAR by 6.1% during the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company's stock valued at $22,094,000 after purchasing an additional 12,143 shares in the last quarter. Finally, Insight Wealth Strategies LLC increased its holdings in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock worth $4,061,000 after purchasing an additional 6,936 shares during the period. Institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PCAR shares. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. UBS Group cut PACCAR from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. Finally, Melius Research set a $120.00 price target on PACCAR in a research report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PACCAR has an average rating of "Moderate Buy" and a consensus target price of $117.54.

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PACCAR Stock Down 1.2 %

PACCAR stock traded down $1.13 during trading hours on Friday, hitting $91.23. The stock had a trading volume of 4,039,680 shares, compared to its average volume of 2,663,427. The stock's 50-day moving average price is $104.12 and its 200-day moving average price is $106.61. The stock has a market capitalization of $47.89 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12-month low of $89.74 and a 12-month high of $123.20. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. PACCAR's dividend payout ratio (DPR) is 16.69%.

Insider Buying and Selling

In other news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

PACCAR 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.