Public Employees Retirement System of Ohio Acquires New Holdings in PACCAR Inc. $PCAR

Key Points

• Public Employees Retirement System of Ohio acquired 208,268 PACCAR shares worth approximately $25.0 million during the second quarter. Institutional investors collectively own 64.9% of PCAR’s outstanding stock.
• PACCAR’s latest quarterly results exceeded expectations, with earnings of $1.43 per share versus the $1.36 consensus and revenue of $7.55 billion versus $7.05 billion expected.
• Insiders sold 56,842 shares worth about $7.6 million over the past three months, while PACCAR declared a quarterly dividend of $0.35 per share, representing a 1.1% yield.

Public Employees Retirement System of Ohio bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 208,268 shares of the company's stock, valued at approximately $25,017,000.

Several other institutional investors and hedge funds have also bought and sold shares of PCAR. Deseret Mutual Benefit Administrators boosted its holdings in PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company's stock valued at $97,000 after purchasing an additional 80 shares during the period. Gulf International Bank UK Ltd increased its holdings in shares of PACCAR by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company's stock worth $2,869,000 after purchasing an additional 81 shares during the period. CYBER HORNET ETFs LLC increased its holdings in shares of PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company's stock worth $163,000 after purchasing an additional 87 shares during the period. Parkside Financial Bank & Trust raised its position in shares of PACCAR by 3.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company's stock worth $317,000 after buying an additional 87 shares in the last quarter. Finally, MCF Advisors LLC raised its position in shares of PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company's stock worth $28,000 after buying an additional 92 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the company's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. This represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 56,842 shares of company stock valued at $7,565,677. Company insiders own 1.99% of the company's stock.

PACCAR Price Performance

PCAR opened at $125.34 on Friday. The stock has a market capitalization of $65.97 billion, a P/E ratio of 26.33, a PEG ratio of 0.99 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The stock has a 50-day moving average price of $127.35 and a 200-day moving average price of $121.93.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business's revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. Equities analysts predict that PACCAR Inc. will post 5.89 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR's payout ratio is currently 29.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PCAR shares. Citigroup lifted their price objective on PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their price target on PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Wells Fargo & Company lifted their price target on PACCAR from $125.00 to $157.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of PACCAR in a report on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $131.70.

About PACCAR

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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