Kentucky Retirement Systems Insurance Trust Fund Has $1.30 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 19.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,539 shares of the company’s stock after selling 2,982 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in PACCAR were worth $1,304,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new position in PACCAR during the fourth quarter worth approximately $1,984,000. Sanctuary Advisors LLC increased its position in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. increased its holdings in shares of PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after buying an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 0.5 %

Shares of PCAR stock opened at $106.54 on Wednesday. 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 $55.86 billion, a P/E ratio of 13.47, a P/E/G ratio of 2.75 and a beta of 0.92. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The company has a 50 day simple moving average of $107.97 and a two-hundred day simple moving average of $105.04.

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 return on equity of 23.53% and a net margin of 12.36%. On average, research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders 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 positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the firm’s 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 owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,547 shares of company stock worth $17,625,128. 2.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent research reports. Morgan Stanley dropped their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised 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. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Truist Financial lifted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.95.

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.