Kentucky Retirement Systems Insurance Trust Fund Purchases 2,419 Shares of PACCAR Inc. (NASDAQ:PCAR)

Kentucky Retirement Systems Insurance Trust Fund raised its stake in PACCAR Inc. (NASDAQ:PCAR) by 19.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,958 shares of the company’s stock after buying an additional 2,419 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in PACCAR were worth $1,456,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PCAR. Norges Bank bought a new stake in shares of PACCAR in the 4th quarter valued at about $526,922,000. Kovitz Investment Group Partners LLC grew its position in shares of PACCAR by 370.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock valued at $557,453,000 after buying an additional 4,219,964 shares during the last quarter. Wellington Management Group LLP grew its position in shares of PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after buying an additional 3,364,650 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in shares of PACCAR in the 4th quarter valued at about $254,651,000. Finally, GAMMA Investing LLC grew its position in shares of PACCAR by 10,716.5% in the 1st quarter. GAMMA Investing LLC now owns 879,056 shares of the company’s stock valued at $85,594,000 after buying an additional 870,929 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial reduced their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada reduced their price target on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 8th. Citigroup cut their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $104.14.

Insiders Place Their Bets

In related news, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Up 0.3%

Shares of NASDAQ:PCAR opened at $90.99 on Monday. The business’s 50 day simple moving average is $92.13 and its two-hundred day simple moving average is $100.26. The firm has a market cap of $47.77 billion, a P/E ratio of 13.79, a PEG ratio of 3.36 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.27 EPS. As a group, research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were issued a $0.33 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.45%. PACCAR’s payout ratio is currently 20.00%.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.