Kentucky Retirement Systems Has $3.60 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Kentucky Retirement Systems lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 7.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,520 shares of the company’s stock after selling 2,978 shares during the period. Kentucky Retirement Systems’ holdings in PACCAR were worth $3,604,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Security National Bank raised its position in PACCAR by 4.2% during the second quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after acquiring an additional 93 shares in the last quarter. Brookstone Capital Management increased its stake in shares of PACCAR by 4.1% during the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after purchasing an additional 94 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after purchasing an additional 97 shares during the period. Omnia Family Wealth LLC lifted its stake in PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after purchasing an additional 98 shares during the last quarter. Finally, Grove Bank & Trust grew its holdings in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PCAR shares. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Citigroup increased their price target on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Truist Financial raised their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $116.55.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 over the last quarter. 2.02% of the stock is owned by company insiders.

PACCAR Stock Performance

NASDAQ PCAR opened at $112.26 on Friday. The firm has a 50-day moving average price of $104.03 and a two-hundred day moving average price of $102.80. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a market capitalization of $58.86 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.76 and a beta of 0.89. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the company posted $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

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.