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

Teacher Retirement System of Texas decreased its holdings in PACCAR Inc (NASDAQ:PCAR) by 5.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 318,823 shares of the company’s stock after selling 19,158 shares during the period. Teacher Retirement System of Texas’ holdings in PACCAR were worth $33,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PCAR. Wellington Management Group LLP increased its stake in shares of PACCAR by 53.3% in 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 purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of PACCAR by 47.8% in 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 purchasing an additional 3,296,146 shares during the last quarter. Madison Investment Advisors LLC bought a new position in shares of PACCAR in the 4th quarter valued at $254,651,000. JPMorgan Chase & Co. increased its stake in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in PACCAR during the 3rd quarter worth $63,186,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 1.3 %

Shares of NASDAQ:PCAR opened at $98.32 on Friday. The company has a market capitalization of $51.60 billion, a price-to-earnings ratio of 12.43, a P/E/G 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 business’s 50-day moving average is $106.48 and its 200-day moving average is $106.40. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is presently 16.69%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PCAR. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial lifted their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

Insider Activity at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated 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 $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last three months. Corporate insiders own 2.02% of the company’s stock.

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.