Teacher Retirement System of Texas Sells 19,158 Shares of PACCAR Inc (NASDAQ:PCAR)

Teacher Retirement System of Texas reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 318,823 shares of the company’s stock after selling 19,158 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of PACCAR worth $33,164,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of PACCAR in the fourth quarter worth about $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR during the fourth quarter worth about $37,000. Atala Financial Inc bought a new position in shares of PACCAR during the fourth quarter worth about $43,000. Regents Gate Capital LLP bought a new position in shares of PACCAR during the fourth quarter worth about $44,000. Finally, OFI Invest Asset Management bought a new position in shares of PACCAR during the fourth quarter worth about $43,000. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $98.32 on Friday. The stock has a market cap of $51.60 billion, a P/E ratio of 12.43, a PEG ratio of 2.77 and a beta of 0.91. The stock has a 50 day simple moving average of $106.48 and a 200 day simple moving average of $106.40. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and reduced their price target for the company from $124.00 to $108.00 in a research report on Tuesday. Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.23.

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.