State of New Jersey Common Pension Fund D Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

State of New Jersey Common Pension Fund D increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 293,536 shares of the company’s stock after buying an additional 5,413 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of PACCAR worth $28,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PCAR. International Assets Investment Management LLC increased its holdings in shares of PACCAR by 75.7% during the third quarter. International Assets Investment Management LLC now owns 4,431 shares of the company’s stock valued at $376,000 after acquiring an additional 1,909 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of PACCAR by 38.5% in the third quarter. HB Wealth Management LLC now owns 5,001 shares of the company’s stock worth $425,000 after buying an additional 1,389 shares during the last quarter. RFG Advisory LLC acquired a new stake in shares of PACCAR during the third quarter worth $211,000. DAVENPORT & Co LLC acquired a new position in PACCAR in the 3rd quarter worth approximately $245,000. Finally, GHP Investment Advisors Inc. boosted its holdings in PACCAR by 8.3% in the third quarter. GHP Investment Advisors Inc. now owns 37,899 shares of the company’s stock valued at $3,175,000 after purchasing an additional 2,917 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Activity at PACCAR

In related news, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the transaction, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Insiders sold 141,293 shares of company stock valued at $14,581,337 over the last three months. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Down 0.6 %

PCAR traded down $0.66 during trading hours on Friday, hitting $111.96. 2,802,497 shares of the company’s stock were exchanged, compared to its average volume of 2,333,385. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50. The firm has a market cap of $58.67 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.71 and a beta of 0.92. The firm has a 50 day moving average of $116.49 and a 200 day moving average of $101.60.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. PACCAR’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 EPS. Analysts predict that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s payout ratio is 12.31%.

Analyst Upgrades and Downgrades

PCAR has been the subject of several recent research reports. Royal Bank of Canada started coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. TD Cowen raised their target price on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $104.00 to $136.00 in a report on Friday, March 15th. Truist Financial started coverage on shares of PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and an average target price of $110.82.

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.