Public Employees Retirement System of Ohio Lowers Stake in PACCAR Inc (NASDAQ:PCAR)

Public Employees Retirement System of Ohio decreased its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,319 shares of the company's stock after selling 21,985 shares during the period. Public Employees Retirement System of Ohio's holdings in PACCAR were worth $26,662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after acquiring an additional 3,364,650 shares during the period. Geode Capital Management LLC increased its position in PACCAR by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after acquiring an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA increased its position in PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock valued at $1,119,997,000 after acquiring an additional 572,231 shares during the period. FMR LLC increased its position in PACCAR by 1.9% in the 4th quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after acquiring an additional 167,165 shares during the period. Finally, Northern Trust Corp increased its position in PACCAR by 8.5% in the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after acquiring an additional 565,967 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Trading Up 1.9%

NASDAQ PCAR traded up $1.73 during trading on Tuesday, hitting $94.97. The company had a trading volume of 2,967,401 shares, compared to its average volume of 2,774,878. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a one year low of $84.65 and a one year high of $118.81. The company has a market cap of $49.86 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company's fifty day moving average is $92.69 and its 200-day moving average is $103.22.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The company's revenue was down 16.0% on a year-over-year basis. During the same period last year, the business earned $2.27 earnings per share. On average, sell-side analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.39%. PACCAR's dividend payout ratio is presently 20.00%.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PCAR shares. Truist Financial decreased their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Melius Research set a $120.00 price target on shares of PACCAR in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $104.14.

PACCAR 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.