PACCAR Inc (NASDAQ:PCAR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 736,969 shares of the company's stock after selling 5,800 shares during the quarter. New York State Common Retirement Fund owned 0.14% of PACCAR worth $76,660,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PCAR. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the fourth quarter worth about $37,000. Regents Gate Capital LLP acquired a new stake in shares of PACCAR during the fourth quarter worth about $44,000. Ashton Thomas Securities LLC acquired a new stake in shares of PACCAR during the third quarter worth about $52,000. Finally, AdvisorNet Financial Inc lifted its holdings in shares of PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock worth $59,000 after purchasing an additional 391 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction on Friday, January 31st. The stock was 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 of the company's stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last three months. 2.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and boosted their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Citigroup decreased their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target on PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Truist Financial boosted their price target on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $121.77.

PACCAR Price Performance

Shares of PCAR stock traded down $2.83 during trading hours on Friday, hitting $103.63. 1,034,505 shares of the company's stock were exchanged, compared to its average volume of 2,252,317. 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 market cap of $54.33 billion, a P/E ratio of 13.11, a P/E/G ratio of 2.79 and a beta of 0.92. The firm has a 50 day moving average of $107.67 and a two-hundred day moving average of $105.07. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results 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 return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is 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.