Strs Ohio Reduced Holding in PACCAR Inc (PCAR)

Strs Ohio Reduced Holding in PACCAR Inc (PCAR)

Strs Ohio reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 2.7% during the first quarter, Holdings Channel reports. The institutional investor owned 8,421 shares of the company’s stock after selling 231 shares during the period. Strs Ohio’s holdings in PACCAR were worth $565,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Sumitomo Life Insurance Co. purchased a new position in PACCAR during the first quarter worth $1,354,000. Janney Montgomery Scott LLC boosted its position in PACCAR by 39.1% in the first quarter. Janney Montgomery Scott LLC now owns 14,047 shares of the company’s stock worth $944,000 after buying an additional 3,951 shares during the period. Mycio Wealth Partners LLC boosted its position in PACCAR by 5.8% in the first quarter. Mycio Wealth Partners LLC now owns 23,589 shares of the company’s stock worth $1,585,000 after buying an additional 1,296 shares during the period. Glen Harbor Capital Management LLC boosted its position in PACCAR by 7.6% in the first quarter. Glen Harbor Capital Management LLC now owns 9,072 shares of the company’s stock worth $610,000 after buying an additional 644 shares during the period. Finally, Headinvest LLC purchased a new position in PACCAR during the first quarter worth $1,382,000. Institutional investors own 60.60% of the company’s stock.

Shares of PACCAR Inc (NASDAQ:PCAR) opened at 63.15 on Friday. PACCAR Inc has a 52 week low of $48.17 and a 52 week high of $70.12. The stock has a market capitalization of $22.18 billion, a price-to-earnings ratio of 15.61 and a beta of 1.26. The stock’s 50 day moving average is $64.78 and its 200-day moving average is $65.96.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.88. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.85 billion. PACCAR had a return on equity of 20.21% and a net margin of 3.12%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.99 EPS. On average, analysts anticipate that PACCAR Inc will post $3.69 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Friday, May 19th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from PACCAR’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Wednesday, May 17th. PACCAR’s dividend payout ratio (DPR) is presently 64.86%.

A number of research analysts have weighed in on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $77.00 price objective on shares of PACCAR in a research report on Friday, March 17th. Credit Suisse Group AG reiterated a “hold” rating and set a $68.00 price objective on shares of PACCAR in a research report on Sunday, February 5th. Royal Bank of Canada reiterated a “buy” rating and set a $75.00 price objective on shares of PACCAR in a research report on Wednesday, March 22nd. Seaport Global Securities reiterated a “buy” rating and set a $80.00 price objective on shares of PACCAR in a research report on Thursday, April 6th. Finally, Deutsche Bank AG boosted their price objective on shares of PACCAR from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, April 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $68.43.

In related news, VP Alma Lily Ley sold 904 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $67.39, for a total transaction of $60,920.56. Following the completion of the sale, the vice president now directly owns 1,679 shares of the company’s stock, valued at approximately $113,147.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.62% of the stock is currently owned by company insiders.

PACCAR Company Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PCAR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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