Maryland State Retirement & Pension System Has $2.86 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Maryland State Retirement & Pension System decreased its stake in PACCAR Inc (NASDAQ:PCAR) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,466 shares of the company’s stock after selling 1,891 shares during the period. Maryland State Retirement & Pension System’s holdings in PACCAR were worth $2,857,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR during the fourth quarter worth approximately $37,000. Atala Financial Inc bought a new stake in shares of PACCAR during the fourth quarter worth approximately $43,000. Regents Gate Capital LLP bought a new stake in shares of PACCAR during the fourth quarter worth approximately $44,000. Finally, OFI Invest Asset Management bought a new stake in shares of PACCAR during the fourth quarter worth approximately $43,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were 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 of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCAR. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, UBS Group downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $124.00 to $108.00 in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average target price of $118.23.

PACCAR Stock Performance

Shares of PACCAR stock opened at $98.32 on Friday. 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 $90.04 and a twelve month high of $125.50. The stock has a market cap of $51.60 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 2.77 and a beta of 0.91. The company’s fifty day moving average is $106.48 and its 200 day moving average is $106.40.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results 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%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is currently 16.69%.

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.