Retirement Systems of Alabama Has $21.56 Million Position in PACCAR Inc (PCAR)

Retirement Systems of Alabama cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 20.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,826 shares of the company’s stock after selling 84,719 shares during the period. Retirement Systems of Alabama owned approximately 0.09% of PACCAR worth $21,560,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Regentatlantic Capital LLC purchased a new stake in shares of PACCAR during the third quarter valued at approximately $202,000. Boston Advisors LLC increased its stake in shares of PACCAR by 5.9% in the third quarter. Boston Advisors LLC now owns 8,025 shares of the company’s stock valued at $472,000 after buying an additional 450 shares in the last quarter. Conning Inc. increased its stake in shares of PACCAR by 0.8% in the third quarter. Conning Inc. now owns 10,701 shares of the company’s stock valued at $629,000 after buying an additional 90 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of PACCAR by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 28,030 shares of the company’s stock valued at $1,647,000 after buying an additional 350 shares in the last quarter. Finally, Nwam LLC increased its stake in shares of PACCAR by 1.1% in the third quarter. Nwam LLC now owns 31,814 shares of the company’s stock valued at $1,870,000 after buying an additional 355 shares in the last quarter. Institutional investors own 60.60% of the company’s stock.

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

Shares of PACCAR Inc (NASDAQ:PCAR) traded down 0.18% during trading on Friday, reaching $65.76. 2,278,721 shares of the company’s stock were exchanged. The firm has a market cap of $23.07 billion, a price-to-earnings ratio of 44.43 and a beta of 1.26. PACCAR Inc has a 12 month low of $48.17 and a 12 month high of $70.12. The stock has a 50-day moving average price of $67.19 and a 200 day moving average price of $64.20.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 31st. The company reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.04. PACCAR had a return on equity of 20.21% and a net margin of 3.12%. The business earned $3.77 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, analysts forecast that PACCAR Inc will post $3.64 EPS for the current year.

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Several analysts have recently commented on PCAR shares. Robert W. Baird downgraded shares of PACCAR from an “outperform” rating to a “neutral” rating and increased their target price for the company from $60.00 to $62.00 in a report on Tuesday, January 3rd. They noted that the move was a valuation call. Evercore ISI upgraded shares of PACCAR from a “hold” rating to a “buy” rating and increased their target price for the company from $58.00 to $77.00 in a report on Tuesday, January 3rd. Vertical Research upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Friday, January 6th. Barclays PLC reiterated a “sell” rating and issued a $54.00 target price on shares of PACCAR in a report on Tuesday, January 10th. Finally, Royal Bank of Canada upgraded shares of PACCAR from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $54.00 to $75.00 in a report on Friday, January 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $68.27.

In other PACCAR news, CEO Ronald E. Armstrong sold 31,326 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $68.29, for a total value of $2,139,252.54. Following the completion of the transaction, the chief executive officer now directly owns 134,793 shares in the company, valued at approximately $9,205,013.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael T. Barkley sold 8,736 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $69.74, for a total value of $609,248.64. Following the completion of the transaction, the insider now owns 19,249 shares of the company’s stock, valued at $1,342,425.26. The disclosure for this sale can be found here. Insiders sold a total of 84,157 shares of company stock valued at $5,757,472 over the last 90 days. 2.62% of the stock is currently owned by corporate insiders.

PACCAR Company Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

5 Day Chart for NASDAQ:PCAR

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