OMERS ADMINISTRATION Corp Reduces Stock Position in PACCAR Inc (NASDAQ:PCAR)

OMERS ADMINISTRATION Corp reduced its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,786 shares of the company's stock after selling 5,120 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in PACCAR were worth $3,618,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after acquiring an additional 1,164,692 shares during the period. Czech National Bank lifted its stake in PACCAR by 6.5% in the fourth quarter. Czech National Bank now owns 113,679 shares of the company's stock valued at $11,825,000 after buying an additional 6,890 shares during the period. Brookstone Capital Management raised its position in shares of PACCAR by 632.7% during the fourth quarter. Brookstone Capital Management now owns 16,142 shares of the company's stock worth $1,679,000 after purchasing an additional 13,939 shares during the period. Wedmont Private Capital raised its position in PACCAR by 7.8% in the 4th quarter. Wedmont Private Capital now owns 8,417 shares of the company's stock valued at $897,000 after buying an additional 606 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock valued at $59,000 after purchasing an additional 391 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

PACCAR stock traded up $0.11 during midday trading on Monday, reaching $96.82. 453,021 shares of the stock traded hands, compared to its average volume of 2,771,420. The stock has a market cap of $50.83 billion, a P/E ratio of 12.24, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. The stock's fifty day moving average is $93.34 and its 200-day moving average is $103.86. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter in the previous year, the business earned $2.27 earnings per share. The company's revenue for the quarter was down 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. PACCAR's dividend payout ratio is currently 20.00%.

Insider Activity

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares of the company's stock, valued at $100,929.63. The trade was a 86.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, for a total transaction 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 trade represents a 62.38% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of several recent research reports. StockNews.com upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Royal Bank of Canada lowered their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Truist Financial dropped their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Finally, Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy 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 $104.14.

About PACCAR

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.