Park National Corp OH Has $1.44 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Park National Corp OH cut its stake in PACCAR Inc (NASDAQ:PCAR) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,572 shares of the company’s stock after selling 389 shares during the period. Park National Corp OH’s holdings in PACCAR were worth $1,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PCAR. Dimensional Fund Advisors LP raised its stake in PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after acquiring an additional 171,317 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of PACCAR by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock valued at $479,466,000 after acquiring an additional 83,444 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of PACCAR by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after acquiring an additional 242,435 shares in the last quarter. Capital International Investors grew its position in PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in PACCAR by 1.5% during the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after purchasing an additional 48,784 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $101.25 on Friday. The firm has a fifty day moving average of $95.85 and a two-hundred day moving average of $105.17. 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 market capitalization of $53.07 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.52 and a beta of 0.91. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50.

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

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.19%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Wall Street Analyst Weigh In

A number of research firms have commented on PCAR. JPMorgan Chase & Co. reduced their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Evercore ISI dropped their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Truist Financial dropped their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $112.73.

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.