Public Employees Retirement System of Ohio Has $21.31 Million Stake in PACCAR Inc. $PCAR

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in PACCAR Inc. by 2.9%, now holding 224,139 shares valued at approximately $21.31 million.
• Insider trading activity included PACCAR's CFO selling 5,000 shares and CEO disposing of nearly 40,000 shares, indicating a significant decrease in their ownership stakes by 91.44% and 15.19%, respectively.
• PACCAR recently announced a quarterly dividend of $0.33 per share, with a yield of 1.4%, set to be paid on December 3rd to shareholders of record on November 12th.

Public Employees Retirement System of Ohio cut its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 224,139 shares of the company's stock after selling 6,576 shares during the quarter. Public Employees Retirement System of Ohio's holdings in PACCAR were worth $21,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised 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 valued at $6,133,914,000 after buying an additional 1,113,520 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after acquiring an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 raised its holdings in shares of 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 shares of PACCAR by 1.6% during 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 in the last quarter. Institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

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

PACCAR Price Performance

PACCAR stock opened at $95.57 on Friday. The business's 50 day simple moving average is $98.95 and its 200 day simple moving average is $95.73. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a market cap of $50.18 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 3.89 and a beta of 0.94. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $7.02 billion. During the same period in the previous year, the company posted $2.13 earnings per share. The business's revenue was down 15.7% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR's dividend payout ratio is 22.60%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of recent analyst reports. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research report on Monday, July 28th. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Vertical Research raised PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and upped their price objective for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, Citigroup lifted 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 research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

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.

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