Arizona State Retirement System Acquires 175 Shares of PACCAR Inc (NASDAQ:PCAR)

Arizona State Retirement System grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 150,412 shares of the company’s stock after buying an additional 175 shares during the period. Arizona State Retirement System’s holdings in PACCAR were worth $15,646,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PCAR. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after buying an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after buying an additional 3,296,146 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of PACCAR during the 3rd quarter valued at $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after buying an additional 576,532 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Truist Financial upped their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Evercore ISI dropped their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were 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 approximately $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 in the last quarter. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR opened at $102.97 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market capitalization of $54.04 billion, a P/E ratio of 13.02, a P/E/G ratio of 2.77 and a beta of 0.91. The company’s 50-day simple moving average is $107.13 and its two-hundred day simple moving average is $105.91. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. As a group, analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders 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 a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio 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.