State of New Jersey Common Pension Fund D Acquires 6,230 Shares of PACCAR Inc. $PCAR

State of New Jersey Common Pension Fund D boosted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,018 shares of the company’s stock after purchasing an additional 6,230 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PACCAR were worth $17,896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Private Wealth Management Group LLC raised its position in shares of PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 211 shares in the last quarter. AlphaQuest LLC bought a new position in PACCAR during the 3rd quarter worth $38,000. Westside Investment Management Inc. raised its holdings in PACCAR by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of PACCAR by 43.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares during the period. Finally, Cloud Capital Management LLC bought a new stake in shares of PACCAR during the 3rd quarter valued at $82,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of analyst reports. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. UBS Group set a $103.00 price target on shares of PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Truist Financial lifted their price objective on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $116.50.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $127.00 on Tuesday. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.70 and a quick ratio of 1.42. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.07 and a beta of 1.03. The firm has a 50 day simple moving average of $118.44 and a 200 day simple moving average of $106.04.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was down 15.1% compared to the same quarter last year. Research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.0%. PACCAR’s dividend payout ratio (DPR) is currently 29.27%.

Insider Activity

In other PACCAR news, VP Paulo Henrique Bolgar sold 12,183 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the sale, the vice president directly owned 6,274 shares of the company’s stock, valued at $768,125.82. The trade was a 66.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the completion of the transaction, the executive vice president owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 133,105 shares of company stock valued at $16,869,046. 2.02% of the stock is currently owned by company insiders.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.