California State Teachers Retirement System Sells 18,482 Shares of PACCAR Inc. $PCAR

California State Teachers Retirement System cut its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 2.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 832,338 shares of the company’s stock after selling 18,482 shares during the quarter. California State Teachers Retirement System owned 0.16% of PACCAR worth $96,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Deseret Mutual Benefit Administrators increased its stake in shares of PACCAR by 9.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after buying an additional 80 shares during the period. Gulf International Bank UK Ltd grew its holdings in PACCAR by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after acquiring an additional 81 shares during the last quarter. CYBER HORNET ETFs LLC increased its position in shares of PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after acquiring an additional 87 shares during the period. Parkside Financial Bank & Trust increased its position in shares of PACCAR by 3.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after acquiring an additional 87 shares during the period. Finally, Jackson Square Capital LLC raised its stake in shares of PACCAR by 3.5% during the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock valued at $290,000 after acquiring an additional 90 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Down 3.1%

Shares of NASDAQ PCAR opened at $133.87 on Thursday. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $139.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.82 and a quick ratio of 2.91. The firm has a 50-day moving average of $120.46 and a 200 day moving average of $120.68. The stock has a market cap of $70.45 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 1.27 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the company earned $1.37 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts expect that PACCAR Inc. will post 5.66 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. PACCAR’s dividend payout ratio is presently 29.79%.

Key Headlines Impacting PACCAR

Here are the key news stories impacting PACCAR this week:

• Positive Sentiment: JPMorgan raised its price target to $164 and upgraded PACCAR to “overweight,” implying substantial upside from recent levels and signaling increased confidence in the truck manufacturer’s earnings outlook. Benzinga
• Positive Sentiment: Second-quarter results exceeded expectations: adjusted earnings were $1.43 per share versus the $1.36 consensus estimate, while revenue reached $7.55 billion, above the $7.05 billion analyst forecast. Earnings also increased from $1.37 per share a year earlier. PACCAR Increases Quarterly Revenues and Profits
• Positive Sentiment: Management cited strong truck orders, higher production rates, improved freight conditions, better truck profitability and record parts revenue. Net income rose 24% from the preceding quarter, supporting the company’s near-term margin outlook. PACCAR Q2 Earnings Surpass Expectations on Truck Profit
• Neutral Sentiment: Analysts characterized truck demand as stable and regulatory conditions as clearer, which may support margins and guidance. However, quarterly revenue increased only about 0.5% year over year, suggesting that growth remains moderate. PCAR Q2 Deep Dive
• Negative Sentiment: PCAR’s lower trading action suggests investors may be taking profits or demanding stronger top-line growth after the earnings release. With the stock near its annual high and trading at roughly 28 times earnings, expectations may already reflect much of the favorable results.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PCAR shares. Sanford C. Bernstein restated an “outperform” rating and set a $148.00 price target on shares of PACCAR in a report on Wednesday. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Finally, Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $127.00.

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.