Public Employees Retirement System of Ohio Sells 10,205 Shares of PACCAR Inc (NASDAQ:PCAR)

Public Employees Retirement System of Ohio decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 4.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 234,845 shares of the company’s stock after selling 10,205 shares during the period. Public Employees Retirement System of Ohio’s holdings in PACCAR were worth $29,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its holdings in PACCAR by 4.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after buying an additional 27,963 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of PACCAR by 18.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after purchasing an additional 16,360 shares in the last quarter. abrdn plc raised its holdings in shares of PACCAR by 50.9% in the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after purchasing an additional 89,359 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after purchasing an additional 9,978 shares in the last quarter. Finally, Nilsine Partners LLC bought a new stake in shares of PACCAR in the 4th quarter valued at about $1,337,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 0.5 %

Shares of PCAR traded down $0.53 during mid-day trading on Monday, reaching $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 debt-to-equity ratio of 0.54, a current ratio of 1.81 and a quick ratio of 1.43. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The business’s fifty day moving average is $105.33 and its 200 day moving average is $108.71. The firm has a market cap of $51.74 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 1.53 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $8.30 billion. During the same period in the prior year, the company posted $2.33 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, sell-side analysts predict that PACCAR Inc will post 8.11 EPS for the current fiscal year.

PACCAR Dividend Announcement

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

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock worth $4,779,241 over the last three months. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent research reports. Citigroup initiated coverage on shares of PACCAR in a report on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price target for the company. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Truist Financial reduced their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $114.27.

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.