Strs Ohio Sells 4,704 Shares of PACCAR Inc (NASDAQ:PCAR)

Strs Ohio lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 14.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,432 shares of the company’s stock after selling 4,704 shares during the quarter. Strs Ohio’s holdings in PACCAR were worth $2,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of PCAR. Prudential PLC bought a new position in PACCAR in the 1st quarter valued at $763,000. Vanguard Group Inc. grew its position in shares of PACCAR by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after buying an additional 698,784 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of PACCAR by 66.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock worth $6,046,000 after buying an additional 27,300 shares in the last quarter. Covestor Ltd grew its position in shares of PACCAR by 73.6% during the 1st quarter. Covestor Ltd now owns 2,118 shares of the company’s stock worth $187,000 after buying an additional 898 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of PACCAR by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock worth $9,399,000 after buying an additional 792 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 1.9 %

PACCAR stock opened at $113.76 on Friday. The stock has a 50-day moving average of $115.86 and a two-hundred day moving average of $100.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The stock has a market cap of $59.61 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.74 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same period last year, the business posted $1.76 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is 12.31%.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock valued at $15,834,812 over the last quarter. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PCAR shares. JPMorgan Chase & Co. increased their price target on PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group increased their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. TD Cowen raised their price objective on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Finally, Evercore ISI raised their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $110.82.

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.