PACCAR Inc. $PCAR Position Trimmed by Strs Ohio

Strs Ohio trimmed its stake in PACCAR Inc. (NASDAQ:PCAR) by 4.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,680 shares of the company’s stock after selling 6,807 shares during the quarter. Strs Ohio’s holdings in PACCAR were worth $16,249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ares Financial Consulting LLC purchased a new position in PACCAR during the 4th quarter valued at about $27,000. MCF Advisors LLC boosted its holdings in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares in the last quarter. Steph & Co. acquired a new position in PACCAR during the first quarter valued at approximately $29,000. Elyxium Wealth LLC bought a new position in shares of PACCAR in the fourth quarter worth about $30,000. Finally, Wealth Watch Advisors INC bought a new position in PACCAR during the third quarter worth $32,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PCAR shares. Truist Financial lifted their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday. Citigroup reiterated a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. BNP Paribas Exane started coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. Finally, Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus price target of $122.45.

PACCAR Price Performance

Shares of PCAR opened at $119.50 on Friday. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The firm’s 50 day moving average is $116.34 and its 200-day moving average is $118.72. The stock has a market capitalization of $62.89 billion, a PE ratio of 25.43, a P/E/G ratio of 1.11 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the prior year, the business posted $1.46 earnings per share. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts forecast that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 29.79%.

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.