California State Teachers Retirement System Sells 19,586 Shares of PACCAR Inc. $PCAR

California State Teachers Retirement System reduced its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 812,752 shares of the company's stock after selling 19,586 shares during the period. California State Teachers Retirement System owned approximately 0.15% of PACCAR worth $97,627,770 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of PCAR. BlackRock Inc. purchased a new position in PACCAR in the second quarter valued at $4,927,720,000. Geode Capital Management LLC increased its stake in PACCAR by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company's stock valued at $1,350,867,000 after purchasing an additional 50,622 shares during the last quarter. Bank of America Corp DE acquired a new position in PACCAR in the 2nd quarter worth $1,130,496,000. Norges Bank bought a new stake in shares of PACCAR in the 4th quarter worth approximately $727,745,000. Finally, Capital Research Global Investors boosted its position in shares of PACCAR by 0.8% during the 4th quarter. Capital Research Global Investors now owns 6,016,243 shares of the company's stock valued at $658,839,000 after purchasing an additional 45,090 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Up 0.0%

Shares of PACCAR stock traded up $0.06 on Tuesday, hitting $122.92. 747,723 shares of the company traded hands, compared to its average volume of 3,097,125. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $128.01 and a 200 day moving average price of $121.62. The company has a market cap of $64.70 billion, a PE ratio of 25.82, a PEG ratio of 1.41 and a beta of 0.96. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.37 earnings per share. Sell-side analysts predict that PACCAR Inc. will post 5.91 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, August 12th. PACCAR's dividend payout ratio is currently 29.41%.

Insider Activity

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the sale, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The SEC filing for this sale provides additional information. Insiders sold 56,842 shares of company stock worth $7,565,677 over the last three months. 1.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Truist Financial increased their target price on PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Sanford C. Bernstein reiterated an "outperform" rating and issued a $148.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Weiss Ratings reiterated a "hold (c+)" rating on shares of PACCAR in a research report on Tuesday, August 18th. Finally, Morgan Stanley set a $125.00 target price on shares of PACCAR and gave the stock an "equal weight" rating in a report on Friday, September 4th. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $133.91.

PACCAR Company Profile

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.

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