PACCAR Inc. $PCAR Shares Bought by Strs Ohio

Key Points

• Institutional buying: Strs Ohio boosted its PACCAR stake by 21.4% in Q4 to 147,487 shares (≈$16.15M) as other institutions like PFA Pension and Danske Bank also adjusted positions, with institutional investors owning 64.9% of the stock.
• Heavy insider selling: Insiders have sold 100,206 shares worth about $12.83M in the past 90 days, including CFO Brice Poplawski and EVP Kevin Baney, leaving insiders with 1.99% ownership.
• Results and dividend lift: PACCAR reported Q EPS of $1.15 (in line) and revenue of $6.78B (beat estimates but down 9.8% YoY) and raised its quarterly dividend to $0.35 (annual $1.40, ~1.2% yield).

Strs Ohio grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 21.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,487 shares of the company's stock after purchasing an additional 25,997 shares during the period. Strs Ohio's holdings in PACCAR were worth $16,151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. PFA Pension Forsikringsaktieselskab acquired a new position in PACCAR during the 4th quarter worth approximately $61,549,000. Horizon Investments LLC increased its position in PACCAR by 3.7% during the 4th quarter. Horizon Investments LLC now owns 34,696 shares of the company's stock worth $3,800,000 after purchasing an additional 1,222 shares during the period. Fifth Third Bancorp increased its position in PACCAR by 2.0% during the 4th quarter. Fifth Third Bancorp now owns 36,798 shares of the company's stock worth $4,030,000 after purchasing an additional 717 shares during the period. Danske Bank A S grew its holdings in shares of PACCAR by 2.1% in the 4th quarter. Danske Bank A S now owns 328,340 shares of the company's stock worth $35,957,000 after acquiring an additional 6,659 shares during the period. Finally, Sigma Planning Corp acquired a new stake in shares of PACCAR in the 4th quarter worth approximately $217,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the sale, the chief financial officer owned 903 shares in the company, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the sale, the executive vice president owned 12,592 shares of the company's stock, valued at approximately $1,593,265.76. This represents a 43.44% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 100,206 shares of company stock worth $12,826,865. 1.99% of the stock is owned by company insiders.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $116.09 on Monday. The business's fifty day moving average price is $120.92 and its two-hundred day moving average price is $114.50. The stock has a market cap of $61.10 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. PACCAR Inc. has a one year low of $88.35 and a one year high of $131.88.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts' consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to analysts' expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.PACCAR's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. On average, analysts forecast that PACCAR Inc. will post 5.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. This is a boost from PACCAR's previous quarterly dividend of $0.33. PACCAR's dividend payout ratio (DPR) is 28.09%.

Analysts Set New Price Targets

PCAR has been the topic of a number of research reports. Truist Financial upped their price target on PACCAR from $120.00 to $126.00 and gave the stock a "hold" rating in a report on Wednesday, April 29th. Citigroup restated a "neutral" rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday. Sanford C. Bernstein restated an "outperform" rating on shares of PACCAR in a report on Tuesday, February 24th. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an "equal weight" rating in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an "equal weight" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $117.83.

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.

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