California Public Employees Retirement System Acquires 9,045 Shares of PACCAR Inc. $PCAR

California Public Employees Retirement System raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,075,315 shares of the company’s stock after purchasing an additional 9,045 shares during the quarter. California Public Employees Retirement System owned 0.20% of PACCAR worth $105,725,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JT Stratford LLC bought a new stake in shares of PACCAR during the 2nd quarter valued at approximately $1,301,000. National Pension Service lifted its stake in PACCAR by 5.5% in the 3rd quarter. National Pension Service now owns 939,146 shares of the company’s stock valued at $92,337,000 after purchasing an additional 48,711 shares during the last quarter. AE Wealth Management LLC boosted its position in PACCAR by 29.1% in the third quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock valued at $3,893,000 after buying an additional 8,932 shares in the last quarter. Vanguard Group Inc. boosted its position in PACCAR by 0.8% in the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock valued at $6,205,117,000 after buying an additional 485,678 shares in the last quarter. Finally, Machina Capital S.A.S. bought a new stake in shares of PACCAR during the third quarter worth $2,231,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. raised their price objective on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Citigroup upped their target price on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company set a $119.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $116.50.

PACCAR Trading Up 0.3%

Shares of NASDAQ PCAR opened at $115.63 on Tuesday. The firm has a 50 day moving average price of $122.84 and a two-hundred day moving average price of $109.40. The stock has a market cap of $60.81 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company 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 business earned $1.66 earnings per share. PACCAR’s revenue was down 15.1% compared to the same quarter last year. As a group, equities analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

Insider Buying and Selling at PACCAR

In other news, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction dated 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 sale, the executive vice president owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This trade represents a 66.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 133,105 shares of company stock worth $16,869,046 over the last 90 days. Company insiders own 2.02% of the company’s stock.

PACCAR Company 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.