PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,007 shares of the company’s stock after buying an additional 336 shares during the period. Oregon Public Employees Retirement Fund’s holdings in PACCAR were worth $4,633,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PCAR. Miracle Mile Advisors LLC increased its holdings in shares of PACCAR by 3.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock worth $307,000 after acquiring an additional 91 shares during the period. Security National Bank raised its holdings in shares of PACCAR by 4.2% during the second quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after buying an additional 93 shares during the last quarter. Brookstone Capital Management boosted its position in shares of PACCAR by 4.1% during the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after buying an additional 94 shares during the period. Morningstar Investment Management LLC grew its holdings in PACCAR by 1.3% in the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after buying an additional 97 shares in the last quarter. Finally, Graypoint LLC increased its position in PACCAR by 2.9% in the 1st quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after acquiring an additional 99 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Raymond James started coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. Citigroup decreased their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Truist Financial decreased their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus target price of $112.73.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $95.00 on Thursday. The company has a market capitalization of $49.80 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The stock has a fifty day moving average of $98.48 and a 200-day moving average of $107.42. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same period last year, the firm earned $2.33 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities analysts anticipate that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.

PACCAR Company 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.