PACCAR Inc (NASDAQ:PCAR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,788 shares of the company's stock after selling 44,503 shares during the quarter. State of Alaska Department of Revenue's holdings in PACCAR were worth $6,219,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Grove Bank & Trust raised its position in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company's stock valued at $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 about $50,000. Ashton Thomas Securities LLC purchased a new stake in PACCAR in the third quarter valued at approximately $52,000. AdvisorNet Financial Inc increased its holdings in PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock worth $59,000 after buying an additional 391 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in PACCAR during the 4th quarter worth approximately $76,000. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the 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 sale, the vice president now directly owns 5,463 shares of the company's stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,871 shares of company stock valued at $14,586,333. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PCAR. BNP Paribas raised shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Truist Financial increased their price target on shares of 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 shares of PACCAR from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley reduced their price target on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.95.

PACCAR Trading Down 0.0 %

PCAR traded down $0.02 during trading hours on Tuesday, reaching $106.09. The company's stock had a trading volume of 1,203,672 shares, compared to its average volume of 2,267,836. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The stock has a market cap of $55.62 billion, a PE ratio of 13.41, a P/E/G ratio of 2.79 and a beta of 0.92. The business's 50-day moving average is $109.29 and its 200-day moving average is $104.70. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39.

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 net margin of 12.36% and a return on equity of 23.53%. As a group, equities research analysts predict that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared 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 was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is currently 15.17%.

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.