PACCAR Inc. $PCAR Shares Sold by Strs Ohio

Strs Ohio lowered its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 140,680 shares of the company’s stock after selling 6,807 shares during the period. Strs Ohio’s holdings in PACCAR were worth $16,249,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PCAR. Ares Financial Consulting LLC bought a new position in PACCAR in the 4th quarter worth about $27,000. Steph & Co. bought a new stake in shares of PACCAR during the first quarter valued at approximately $29,000. MCF Advisors LLC raised its holdings in shares of PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of PACCAR during the fourth quarter worth approximately $30,000. Finally, Camelot Portfolios LLC acquired a new position in shares of PACCAR during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $119.50 on Friday. The business has a 50 day moving average price of $116.34 and a two-hundred day moving average price of $118.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The company has a market capitalization of $62.89 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. Research analysts predict that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

Wall Street Analyst Weigh In

Several research firms recently commented on PCAR. Evercore set a $139.00 target price on PACCAR in a research report on Monday, May 11th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. BNP Paribas Exane assumed coverage on PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $122.45.

PACCAR Company Profile

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.