Teacher Retirement System of Texas Sells 19,158 Shares of PACCAR Inc (NASDAQ:PCAR)

Teacher Retirement System of Texas trimmed its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 5.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 318,823 shares of the company's stock after selling 19,158 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.06% of PACCAR worth $33,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PCAR. Golden State Wealth Management LLC acquired a new position in PACCAR in the 4th quarter worth approximately $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the fourth quarter worth $37,000. OFI Invest Asset Management purchased a new position in shares of PACCAR during the fourth quarter valued at $43,000. Atala Financial Inc acquired a new position in PACCAR during the fourth quarter valued at $43,000. Finally, Regents Gate Capital LLP purchased a new stake in PACCAR in the 4th quarter worth about $44,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. UBS Group lowered shares of PACCAR from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Citigroup decreased their target price on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Finally, Melius Research upgraded PACCAR to a "strong-buy" rating in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $118.23.

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PACCAR Stock Performance

PCAR traded up $0.60 on Tuesday, hitting $99.24. The company had a trading volume of 1,956,717 shares, compared to its average volume of 2,528,810. The stock has a market cap of $52.09 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company's fifty day moving average price is $106.10 and its 200 day moving average price is $106.60. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued 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 analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. This is an increase from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company's stock.

About PACCAR

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.