Strs Ohio Sells 4,704 Shares of PACCAR Inc (NASDAQ:PCAR)

Strs Ohio decreased its position in PACCAR Inc (NASDAQ:PCAR) by 14.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,432 shares of the company’s stock after selling 4,704 shares during the period. Strs Ohio’s holdings in PACCAR were worth $2,776,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FORVIS Wealth Advisors LLC grew its holdings in shares of PACCAR by 0.5% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after purchasing an additional 109 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of PACCAR by 0.9% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock worth $1,231,000 after purchasing an additional 124 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of PACCAR by 1.9% in the third quarter. CIBC Private Wealth Group LLC now owns 6,654 shares of the company’s stock worth $557,000 after purchasing an additional 124 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in PACCAR by 8.2% in the first quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock valued at $145,000 after acquiring an additional 125 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in PACCAR by 39.3% in the fourth quarter. Blue Trust Inc. now owns 450 shares of the company’s stock valued at $44,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial initiated coverage on shares of PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target on the stock. Royal Bank of Canada initiated coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Finally, Evercore ISI raised their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and a consensus target price of $110.82.

Insider Transactions at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other PACCAR news, SVP Kevin D. Baney sold 7,203 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the transaction, the senior vice president now owns 6,621 shares of the company’s stock, valued at approximately $682,161.63. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock valued at $15,834,812 in the last quarter. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

PCAR opened at $113.76 on Friday. The stock has a 50-day moving average price of $115.86 and a 200-day moving average price of $100.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. The firm has a market cap of $59.61 billion, a PE ratio of 12.97, a P/E/G ratio of 1.74 and a beta of 0.92. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. PACCAR’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 EPS. Sell-side analysts predict that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is presently 12.31%.

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.