PACCAR Inc (NASDAQ:PCAR) Stock Holdings Reduced by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in PACCAR Inc (NASDAQ:PCAR) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,845 shares of the company’s stock after selling 10,205 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in PACCAR were worth $29,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCAR. Fisher Asset Management LLC boosted its stake in shares of PACCAR by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after acquiring an additional 89,984 shares in the last quarter. Norges Bank bought a new stake in shares of PACCAR during the 4th quarter worth about $448,288,000. Capital International Investors boosted its stake in shares of PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of PACCAR by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after acquiring an additional 54,273 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of PACCAR by 0.9% during the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after acquiring an additional 23,394 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Raymond James assumed coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. JPMorgan Chase & Co. decreased their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Truist Financial decreased their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group increased their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, PACCAR has an average rating of “Hold” and an average price target of $114.27.

PACCAR Stock Performance

PACCAR stock traded down $0.53 during trading hours on Monday, hitting $98.71. The stock had a trading volume of 1,413,772 shares, compared to its average volume of 2,625,773. The company has a 50-day moving average of $105.33 and a two-hundred day moving average of $108.71. The company has a quick ratio of 1.43, a current ratio of 1.81 and a debt-to-equity ratio of 0.54. The company has a market cap of $51.74 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same period last year, the company earned $2.33 EPS. The company’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts anticipate that PACCAR Inc will post 8.11 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. PACCAR’s payout ratio is presently 12.45%.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,040 shares of company stock valued at $4,779,241. Corporate insiders own 2.02% of the company’s stock.

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.