Public Employees Retirement System of Ohio Takes Position in PACCAR Inc. $PCAR

Public Employees Retirement System of Ohio acquired a new position in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 208,268 shares of the company’s stock, valued at approximately $25,017,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Paladin Partners LLC purchased a new stake in shares of PACCAR in the 2nd quarter worth about $27,000. MCF Advisors LLC boosted its stake in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares in the last quarter. Fiduciary Financial Advisors purchased a new position in shares of PACCAR during the second quarter valued at about $28,000. Compass Financial Management LLC purchased a new position in shares of PACCAR during the second quarter valued at about $28,000. Finally, Steph & Co. bought a new position in PACCAR in the first quarter worth about $29,000. 64.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on PCAR shares. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Wells Fargo & Company raised their price objective on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $131.70.

Insider Buying and Selling

In other news, VP William Lance Walters sold 1,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the transaction, the chief financial officer owned 1,391 shares of the company’s stock, valued at $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 56,842 shares of company stock valued at $7,565,677. 1.99% of the stock is owned by insiders.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $125.34 on Friday. The company has a 50 day simple moving average of $127.35 and a two-hundred day simple moving average of $121.93. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24. The company has a market capitalization of $65.97 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 EPS. Analysts expect that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s payout ratio is presently 29.41%.

PACCAR 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.