New York State Teachers Retirement System reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 1.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 449,127 shares of the company’s stock after selling 6,977 shares during the quarter. New York State Teachers Retirement System owned approximately 0.13% of PACCAR worth $32,184,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of PACCAR in the 4th quarter worth about $333,867,000. Great Lakes Advisors LLC acquired a new stake in shares of PACCAR in the 1st quarter worth about $46,854,000. AJO LP increased its holdings in shares of PACCAR by 622.0% in the 1st quarter. AJO LP now owns 718,613 shares of the company’s stock worth $48,966,000 after acquiring an additional 619,081 shares during the period. BlackRock Inc. increased its holdings in shares of PACCAR by 2.2% in the 1st quarter. BlackRock Inc. now owns 25,851,876 shares of the company’s stock worth $1,761,547,000 after acquiring an additional 554,802 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of PACCAR by 139.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 943,149 shares of the company’s stock worth $53,893,000 after acquiring an additional 548,660 shares during the period. Institutional investors own 63.28% of the company’s stock.
A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of PACCAR to $70.00 and gave the stock a “market perform” rating in a report on Friday, May 17th. Longbow Research cut shares of Rush Enterprises from a “buy” rating to a “neutral” rating in a report on Monday, May 6th. Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Loop Capital cut shares of Ryder System from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $70.00 to $62.00 in a report on Tuesday, July 2nd. Finally, BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. PACCAR has a consensus rating of “Hold” and an average price target of $66.31.
PACCAR stock traded up $0.07 during trading hours on Tuesday, hitting $69.23. 3,289,534 shares of the company traded hands, compared to its average volume of 1,449,315. The company has a market cap of $24.02 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.23 and a beta of 1.25. The company has a current ratio of 2.49, a quick ratio of 2.32 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $70.53. PACCAR Inc has a 1-year low of $53.43 and a 1-year high of $73.00.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $1.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.82 by ($0.04). The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.21 billion. PACCAR had a net margin of 9.50% and a return on equity of 25.94%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 EPS. Analysts anticipate that PACCAR Inc will post 6.74 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.28 annualized dividend and a yield of 1.85%. PACCAR’s payout ratio is 20.51%.
In other news, VP David J. Danforth sold 4,315 shares of PACCAR stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $70.69, for a total value of $305,027.35. Following the transaction, the vice president now owns 7,286 shares of the company’s stock, valued at approximately $515,047.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP C Michael Dozier sold 12,638 shares of PACCAR stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $69.17, for a total transaction of $874,170.46. Following the completion of the transaction, the vice president now directly owns 8,401 shares in the company, valued at approximately $581,097.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,301 shares of company stock worth $1,554,065. 2.32% of the stock is owned by corporate insiders.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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