PACCAR Inc. $PCAR Shares Purchased by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 494,494 shares of the company’s stock after purchasing an additional 6,620 shares during the period. State Board of Administration of Florida Retirement System owned about 0.09% of PACCAR worth $47,007,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Harfst & Associates Inc. boosted its holdings in shares of PACCAR by 157.9% in the 2nd quarter. Harfst & Associates Inc. now owns 16,052 shares of the company’s stock valued at $1,526,000 after buying an additional 9,828 shares during the period. Quadrant Capital Group LLC lifted its holdings in PACCAR by 3.2% in the second quarter. Quadrant Capital Group LLC now owns 12,989 shares of the company’s stock worth $1,235,000 after acquiring an additional 408 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in PACCAR in the second quarter valued at approximately $1,338,000. Inceptionr LLC boosted its stake in PACCAR by 388.2% in the second quarter. Inceptionr LLC now owns 23,930 shares of the company’s stock valued at $2,275,000 after acquiring an additional 19,028 shares during the period. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of PACCAR by 27.0% during the second quarter. J.W. Cole Advisors Inc. now owns 13,445 shares of the company’s stock valued at $1,278,000 after purchasing an additional 2,858 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent research reports. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price objective on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an “outperform” rating in a report on Tuesday, August 19th. Finally, Morgan Stanley set a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $106.54.

PACCAR Trading Up 0.4%

Shares of PCAR stock opened at $105.42 on Friday. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The firm has a market capitalization of $55.37 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The stock has a fifty day moving average of $98.33 and a two-hundred day moving average of $97.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period last year, the business posted $1.85 earnings per share. As a group, research analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio is currently 25.83%.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.02% of the company’s stock.

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.