Kentucky Retirement Systems Sells 226 Shares of PACCAR Inc (NASDAQ:PCAR)

Kentucky Retirement Systems reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,498 shares of the company’s stock after selling 226 shares during the quarter. Kentucky Retirement Systems’ holdings in PACCAR were worth $4,066,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PCAR. Capital International Investors grew its holdings in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares during the last quarter. TD Asset Management Inc lifted its position in PACCAR by 112.2% during the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after buying an additional 1,095,894 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in PACCAR during the 4th quarter worth about $87,441,000. Renaissance Technologies LLC bought a new stake in PACCAR during the 2nd quarter worth about $88,437,000. Finally, Epoch Investment Partners Inc. increased its position in PACCAR by 113.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock valued at $103,408,000 after acquiring an additional 562,571 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 3.3 %

Shares of NASDAQ:PCAR opened at $99.52 on Friday. The firm has a market cap of $52.16 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.47 and a beta of 0.91. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company’s fifty day simple moving average is $97.04 and its 200 day simple moving average is $106.30. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts forecast that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. PACCAR’s dividend payout ratio is 12.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCAR. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Citigroup reduced their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Raymond James assumed coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. dropped their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average target price of $112.73.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.02% of the company’s stock.

PACCAR 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.