PACCAR Inc. (PCAR) Stake Decreased by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan cut its stake in PACCAR Inc. (NASDAQ:PCAR) by 19.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,080 shares of the company’s stock after selling 2,180 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in PACCAR were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in PACCAR by 91.1% in the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after acquiring an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after acquiring an additional 300 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in PACCAR by 29.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after acquiring an additional 500 shares in the last quarter. Sun Life Financial INC increased its holdings in PACCAR by 19,884.6% in the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Institute for Wealth Management LLC. purchased a new stake in PACCAR in the 2nd quarter worth $201,000. Institutional investors own 62.35% of the company’s stock.
PCAR has been the topic of several recent research reports. ValuEngine raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, September 5th. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of PACCAR in a research report on Friday, September 1st. Finally, UBS reaffirmed a “buy” rating and issued a $82.00 target price (up previously from $76.00) on shares of PACCAR in a research report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $75.60.
Shares of PACCAR Inc. (NASDAQ:PCAR) traded up $1.32 during midday trading on Friday, hitting $70.33. The company had a trading volume of 2,358,100 shares, compared to its average volume of 1,909,610. The company has a current ratio of 2.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.75. PACCAR Inc. has a 52-week low of $58.78 and a 52-week high of $75.68. The firm has a market capitalization of $24,095.85, a P/E ratio of 17.57, a PEG ratio of 1.64 and a beta of 1.24.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. PACCAR’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. research analysts expect that PACCAR Inc. will post 4.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s dividend payout ratio (DPR) is 25.64%.
In other news, VP C Michael Dozier sold 3,618 shares of PACCAR stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.02, for a total value of $249,714.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark C. Pigott sold 98,956 shares of PACCAR stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $71.37, for a total value of $7,062,489.72. Following the completion of the transaction, the insider now directly owns 2,985,401 shares in the company, valued at $213,068,069.37. The disclosure for this sale can be found here. Insiders sold a total of 106,598 shares of company stock valued at $7,597,908 in the last 90 days. 2.64% of the stock is owned by company insiders.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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