Public Employees Retirement System of Ohio Purchases 7,189 Shares of PACCAR Inc (NASDAQ:PCAR)

Public Employees Retirement System of Ohio boosted its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,304 shares of the company's stock after purchasing an additional 7,189 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.05% of PACCAR worth $27,463,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company's stock valued at $557,572,000 after purchasing an additional 171,317 shares during the period. Fisher Asset Management LLC grew its holdings in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock worth $511,254,000 after buying an additional 89,245 shares in the last quarter. Finally, Legal & General Group Plc increased its position in PACCAR by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company's stock valued at $445,681,000 after acquiring an additional 242,435 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now owns 7,121 shares of the company's stock, valued at approximately $761,947. This trade represents a 58.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. Corporate insiders own 2.02% of the company's stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of recent analyst reports. Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and increased their target price for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Citigroup increased their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a "neutral" rating in a report on Monday. Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Truist Financial increased their price target on PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price target on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of "Hold" and a consensus target price of $118.25.

PACCAR Price Performance

PCAR traded up $0.54 during midday trading on Tuesday, hitting $115.37. The company had a trading volume of 1,875,702 shares, compared to its average volume of 2,584,622. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The firm's 50-day simple moving average is $109.82 and its 200-day simple moving average is $103.70. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a market capitalization of $60.49 billion, a PE ratio of 12.89, a P/E/G ratio of 1.82 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company's revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. Equities research analysts predict that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were paid a $0.30 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. PACCAR's dividend payout ratio (DPR) is presently 13.41%.

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.