New Mexico Educational Retirement Board cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,103 shares of the company’s stock after selling 700 shares during the period. New Mexico Educational Retirement Board’s holdings in PACCAR were worth $1,983,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PCAR. Truvestments Capital LLC acquired a new stake in shares of PACCAR during the first quarter valued at approximately $42,000. Berman Capital Advisors LLC acquired a new stake in shares of PACCAR during the fourth quarter valued at approximately $43,000. Lindbrook Capital LLC acquired a new stake in shares of PACCAR during the fourth quarter valued at approximately $47,000. American Research & Management Co. acquired a new stake in shares of PACCAR during the first quarter valued at approximately $68,000. Finally, Synovus Financial Corp raised its holdings in shares of PACCAR by 1,116.5% during the fourth quarter. Synovus Financial Corp now owns 1,253 shares of the company’s stock valued at $72,000 after acquiring an additional 1,150 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

In other news, VP David J. Danforth sold 1,549 shares of the stock in a transaction on Monday, February 4th. The shares were sold at an average price of $64.49, for a total transaction of $99,895.01. Following the transaction, the vice president now owns 6,571 shares in the company, valued at approximately $423,763.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David J. Danforth sold 1,500 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $64.99, for a total transaction of $97,485.00. Following the transaction, the vice president now owns 6,571 shares in the company, valued at approximately $427,049.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,989 shares of company stock worth $4,160,345. 2.32% of the stock is currently owned by company insiders.

A number of research firms have recently issued reports on PCAR. Zacks Investment Research lowered shares of PACCAR from a “buy” rating to a “hold” rating in a report on Friday, February 1st. Mizuho restated a “hold” rating on shares of PACCAR in a report on Monday, December 31st. BidaskClub upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Thursday. Finally, ValuEngine upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Friday, December 21st. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $67.73.

PACCAR stock opened at $71.44 on Friday. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.30 and a beta of 1.24. The company has a current ratio of 2.33, a quick ratio of 2.18 and a debt-to-equity ratio of 0.75. PACCAR Inc has a twelve month low of $53.43 and a twelve month high of $72.89.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 29th. The company reported $1.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.08. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. The company had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the business posted $1.18 EPS. PACCAR’s quarterly revenue was up 15.8% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc will post 6.43 earnings per share for the current year.

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PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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