Kentucky Retirement Systems Insurance Trust Fund Has $2.14 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in PACCAR Inc (NASDAQ:PCAR) by 7.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 17,262 shares of the company’s stock after selling 1,373 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in PACCAR were worth $2,139,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. PSI Advisors LLC acquired a new position in shares of PACCAR during the 1st quarter valued at about $25,000. YHB Investment Advisors Inc. acquired a new stake in PACCAR in the 1st quarter valued at approximately $27,000. Riverview Trust Co acquired a new stake in PACCAR in the 1st quarter valued at approximately $29,000. Rise Advisors LLC acquired a new stake in PACCAR in the 1st quarter valued at approximately $31,000. Finally, AdvisorNet Financial Inc grew its holdings in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCAR. Truist Financial lowered their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday. The Goldman Sachs Group raised their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Raymond James assumed coverage on PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. reduced their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $114.27.

Insider Buying and Selling

In related news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at $16,397,377.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock valued at $4,779,241 over the last three months. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR stock traded up $1.64 during midday trading on Friday, reaching $99.24. 3,091,675 shares of the company’s stock traded hands, compared to its average volume of 3,505,084. The company has a 50-day simple moving average of $105.33 and a two-hundred day simple moving average of $108.61. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a market cap of $52.02 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.53 and a beta of 0.92. The company has a quick ratio of 2.49, a current ratio of 1.81 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released 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). The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $2.33 earnings per share. On average, analysts anticipate that PACCAR Inc will post 8.11 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.