State of Tennessee Department of Treasury Has $14.87 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

State of Tennessee Department of Treasury raised its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 49.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 142,951 shares of the company's stock after acquiring an additional 46,980 shares during the period. State of Tennessee Department of Treasury's holdings in PACCAR were worth $14,870,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Morse Asset Management Inc bought a new stake in PACCAR during the 3rd quarter worth about $370,000. McIlrath & Eck LLC boosted its stake in shares of PACCAR by 16.0% during the 3rd quarter. McIlrath & Eck LLC now owns 28,064 shares of the company's stock worth $2,769,000 after buying an additional 3,878 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of PACCAR in the 3rd quarter valued at about $419,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of PACCAR in the third quarter valued at about $269,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of PACCAR stock traded up $0.23 on Monday, hitting $92.12. The stock had a trading volume of 734,396 shares, compared to its average volume of 2,742,815. The stock has a market cap of $48.36 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a twelve month low of $85.05 and a twelve month high of $118.81. The business's 50 day moving average is $97.55 and its two-hundred day moving average is $105.37.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is a boost from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.43%. PACCAR's payout ratio is 16.69%.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares of the company's stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 in the last quarter. Corporate insiders own 2.02% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on PCAR. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and raised their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a research report on Wednesday, April 16th. Citigroup decreased their price objective on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, Truist Financial dropped their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $108.59.

About PACCAR

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.