State of Alaska Department of Revenue Reduces Holdings in PACCAR Inc (NASDAQ:PCAR)

State of Alaska Department of Revenue lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 7.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 112,721 shares of the company’s stock after selling 9,380 shares during the quarter. State of Alaska Department of Revenue’s holdings in PACCAR were worth $13,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Fisher Asset Management LLC lifted its holdings in PACCAR by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after buying an additional 89,984 shares during the period. Norges Bank bought a new position in shares of PACCAR in the 4th quarter worth approximately $448,288,000. Charles Schwab Investment Management Inc. raised its position in shares of PACCAR by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after acquiring an additional 54,273 shares in the last quarter. First Trust Advisors LP raised its position in shares of PACCAR by 0.9% in the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after acquiring an additional 23,394 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after acquiring an additional 1,095,894 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PCAR shares. StockNews.com lowered PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Raymond James initiated coverage on PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Royal Bank of Canada initiated coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.92.

Insiders Place Their Bets

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,040 shares of company stock valued at $4,779,241. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Up 1.1 %

PACCAR stock opened at $102.00 on Thursday. The firm has a market cap of $53.46 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 1.21 and a beta of 0.92. The stock has a fifty day simple moving average of $107.14 and a two-hundred day simple moving average of $107.84. PACCAR Inc has a 12 month low of $80.91 and a 12 month high of $125.50. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 EPS. Equities analysts predict that PACCAR Inc will post 8.34 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were issued a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.