Retirement Systems of Alabama Decreases Position in PACCAR Inc (NASDAQ:PCAR)

Retirement Systems of Alabama decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,517 shares of the company’s stock after selling 947 shares during the quarter. Retirement Systems of Alabama’s holdings in PACCAR were worth $11,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust increased its holdings in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares in the last quarter. Sander Capital Advisors Inc. purchased a new stake in shares of PACCAR during the third quarter valued at $50,000. Ashton Thomas Securities LLC purchased a new position in PACCAR in the 3rd quarter worth about $52,000. AdvisorNet Financial Inc lifted its stake in PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after acquiring an additional 391 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in PACCAR during the 4th quarter valued at about $76,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,871 shares of company stock valued at $14,586,333. 2.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on PCAR shares. Truist Financial lifted 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 upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.95.

PACCAR Price Performance

NASDAQ PCAR opened at $106.02 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market cap of $55.59 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.87 and a beta of 0.92. The company’s 50 day moving average is $109.71 and its two-hundred day moving average is $104.57.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 net margin of 12.36% and a return on equity of 23.53%. As a group, research analysts anticipate that PACCAR Inc will post 7.6 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. 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 (DPR) is currently 15.17%.

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.