California State Teachers Retirement System Has $44.06 Million Stake in PACCAR Inc. (PCAR)
California State Teachers Retirement System decreased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 7.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 609,044 shares of the company’s stock after selling 48,863 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of PACCAR worth $44,058,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of PACCAR by 91.1% during the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after purchasing an additional 890 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after buying an additional 300 shares during the last quarter. Sun Life Financial INC grew its stake in PACCAR by 19,884.6% in the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after buying an additional 2,585 shares during the last quarter. Hartland & Co. LLC acquired a new position in PACCAR in the 3rd quarter valued at $206,000. Finally, BB&T Securities LLC acquired a new position in PACCAR in the 3rd quarter valued at $210,000. Institutional investors own 62.36% of the company’s stock.
A number of research analysts recently issued reports on PCAR shares. ValuEngine upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, September 5th. Royal Bank of Canada reiterated a “buy” rating on shares of PACCAR in a research note on Friday, September 1st. UBS reiterated a “buy” rating and issued a $82.00 target price (up from $76.00) on shares of PACCAR in a research note on Tuesday, October 3rd. Finally, Citigroup raised their target price on shares of PACCAR from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, October 13th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. PACCAR currently has an average rating of “Hold” and a consensus target price of $75.15.
In other PACCAR news, VP C Michael Dozier sold 3,618 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $69.02, for a total value of $249,714.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alma Lily Ley sold 4,024 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the sale, the vice president now directly owns 24,319 shares of the company’s stock, valued at $1,726,649. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,598 shares of company stock valued at $7,597,908. Insiders own 2.64% of the company’s stock.
Shares of PACCAR Inc. (NASDAQ PCAR) opened at $69.16 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75. PACCAR Inc. has a 1-year low of $61.93 and a 1-year high of $75.68. The firm has a market cap of $24,647.88, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the firm earned $0.98 EPS. The business’s revenue was up 19.7% on a year-over-year basis. equities research analysts predict that PACCAR Inc. will post 4.18 earnings per share for the current year.
The business also recently declared a special dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be issued a $1.20 dividend. This represents a yield of 1.4%. The ex-dividend date is Wednesday, December 13th. PACCAR’s dividend payout ratio (DPR) is presently 25.64%.
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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.
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