Alaska Permanent Fund Corp Grows Holdings in PACCAR Inc (NASDAQ:PCAR)

Alaska Permanent Fund Corp increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 141,958 shares of the company’s stock after purchasing an additional 1,856 shares during the quarter. Alaska Permanent Fund Corp’s holdings in PACCAR were worth $13,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. OFI Invest Asset Management purchased a new position in PACCAR during the third quarter worth about $26,000. AdvisorNet Financial Inc boosted its holdings in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the last quarter. Arlington Trust Co LLC purchased a new position in PACCAR during the third quarter worth about $30,000. Finally, NBC Securities Inc. purchased a new position in PACCAR during the third quarter worth about $34,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In related news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,589,751.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock valued at $15,834,812 in the last three months. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PCAR. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. Morgan Stanley began coverage on shares of PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. TD Cowen boosted their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Finally, UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Price Performance

PCAR stock traded down $1.93 during midday trading on Thursday, reaching $111.81. The company had a trading volume of 305,346 shares, compared to its average volume of 2,289,922. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The company has a market capitalization of $58.59 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.70 and a beta of 0.92. The firm has a 50-day moving average price of $116.40 and a 200-day moving average price of $101.52.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.76 EPS. On average, research analysts anticipate that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.97%. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

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.