Arizona State Retirement System Sells 5,446 Shares of PACCAR Inc. $PCAR

Arizona State Retirement System lowered its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 147,861 shares of the company’s stock after selling 5,446 shares during the quarter. Arizona State Retirement System’s holdings in PACCAR were worth $16,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares in the last quarter. Focus Partners Wealth increased its holdings in PACCAR by 15.4% in the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after acquiring an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in PACCAR by 2.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after acquiring an additional 5,327 shares in the last quarter. Ieq Capital LLC grew its holdings in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after buying an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in PACCAR during the 2nd quarter valued at approximately $81,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR opened at $127.00 on Friday. The business’s 50-day moving average is $121.31 and its two-hundred day moving average is $113.50. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $131.88. The firm has a market capitalization of $66.84 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.06 and a beta of 1.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The company’s revenue was down 15.1% on a year-over-year basis. Research analysts anticipate that PACCAR Inc. will post 5.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PCAR. JPMorgan Chase & Co. increased their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Citigroup increased their target price on PACCAR from $125.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Wells Fargo & Company set a $119.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $117.42.

Insider Buying and Selling

In other PACCAR news, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the transaction, the executive vice president directly owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. The trade was a 69.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the sale, the chief financial officer owned 903 shares of the company’s stock, valued at $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 133,105 shares of company stock valued at $16,869,046 in the last three months. 1.99% of the stock is currently owned by company insiders.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.