132,400 Shares in PACCAR Inc. $PCAR Acquired by Strs Ohio

Key Points

• Strs Ohio has acquired 132,400 shares of PACCAR Inc., valued at approximately $12.89 million, marking a new position for the fund in the first quarter.
• CEO R Preston Feight sold 39,965 shares of PACCAR, reducing his position by 15.19%, while CFO Brice J. Poplawski sold 5,000 shares, representing a 91.44% decrease in their holdings.
• PACCAR recently announced a quarterly dividend of $0.33 per share, with an annualized yield of 1.3%, set to be paid on December 3rd.

Strs Ohio bought a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 132,400 shares of the company's stock, valued at approximately $12,892,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in PACCAR by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after buying an additional 1,113,520 shares during the last quarter. Wellington Management Group LLP lifted its position in PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after purchasing an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in PACCAR by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after purchasing an additional 987,805 shares during the last quarter. Northern Trust Corp lifted its position in PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock valued at $704,956,000 after purchasing an additional 37,609 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in PACCAR by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock valued at $594,277,000 after purchasing an additional 97,197 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Up 0.7%

PCAR stock opened at $102.51 on Friday. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The business's 50-day moving average is $98.48 and its two-hundred day moving average is $96.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The company has a market cap of $53.83 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 4.09 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the company earned $2.13 earnings per share. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's dividend payout ratio (DPR) is 22.60%.

Analyst Ratings Changes

PCAR has been the subject of several recent research reports. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Evercore ISI set a $114.00 target price on shares of PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Truist Financial dropped their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and increased their target price for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, Citigroup increased their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR has an average rating of "Moderate Buy" and a consensus target price of $107.68.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.