Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Teachers Retirement System of The State of Kentucky decreased its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 81.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,083 shares of the company's stock after selling 175,946 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in PACCAR were worth $3,857,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Quarry LP purchased a new position in PACCAR in the second quarter valued at $26,000. Meeder Asset Management Inc. lifted its stake in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in PACCAR in the second quarter valued at approximately $36,000. ORG Partners LLC raised its holdings in PACCAR by 7,560.0% during the second quarter. ORG Partners LLC now owns 383 shares of the company's stock worth $39,000 after purchasing an additional 378 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company's stock worth $46,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded up $0.21 during midday trading on Friday, hitting $113.01. The stock had a trading volume of 1,484,895 shares, compared to its average volume of 2,576,802. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $110.95 and a two-hundred day moving average price of $103.91. The company has a market capitalization of $59.25 billion, a PE ratio of 12.63, a P/E/G ratio of 1.82 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm's quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 EPS. As a group, equities analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a $3.00 dividend. This is a boost from PACCAR's previous dividend of $0.89. The ex-dividend date of this dividend is Friday, December 20th. PACCAR's dividend payout ratio is presently 13.41%.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares of the company's stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the company's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on PCAR. Royal Bank of Canada reiterated a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI upgraded PACCAR from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Truist Financial boosted their price objective on PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of PACCAR to a "hold" rating in a research report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of "Hold" and a consensus price target of $118.25.

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.