PACCAR Inc. $PCAR Shares Acquired by Strs Ohio

Strs Ohio lifted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 21.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 147,487 shares of the company’s stock after acquiring an additional 25,997 shares during the period. Strs Ohio’s holdings in PACCAR were worth $16,151,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of PACCAR during the fourth quarter worth $61,549,000. Horizon Investments LLC boosted its holdings in shares of PACCAR by 3.7% during the fourth quarter. Horizon Investments LLC now owns 34,696 shares of the company’s stock worth $3,800,000 after purchasing an additional 1,222 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of PACCAR by 2.0% during the fourth quarter. Fifth Third Bancorp now owns 36,798 shares of the company’s stock worth $4,030,000 after purchasing an additional 717 shares during the last quarter. Danske Bank A S boosted its holdings in shares of PACCAR by 2.1% during the fourth quarter. Danske Bank A S now owns 328,340 shares of the company’s stock worth $35,957,000 after purchasing an additional 6,659 shares during the last quarter. Finally, Sigma Planning Corp acquired a new stake in shares of PACCAR during the fourth quarter worth $217,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Up 0.0%

Shares of PCAR opened at $116.09 on Monday. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $61.10 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 1.08 and a beta of 1.02. The stock’s fifty day simple moving average is $120.92 and its 200 day simple moving average is $114.50. PACCAR Inc. has a twelve month low of $88.35 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS. On average, equities research analysts forecast that PACCAR Inc. will post 5.6 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 13th. PACCAR’s dividend payout ratio is 28.09%.

Insider Buying and Selling

In other PACCAR news, EVP Kevin D. Baney sold 9,672 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the transaction, the executive vice president directly owned 12,592 shares of the company’s stock, valued at $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 9,258 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the completion of the transaction, the chief executive officer directly owned 258,566 shares in the company, valued at $33,536,010.20. This trade represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 100,206 shares of company stock valued at $12,826,865. 1.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCAR. JPMorgan Chase & Co. decreased their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Morgan Stanley set a $109.00 price objective on PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Truist Financial increased their target price on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $117.83.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.