Optimist Retirement Group LLC Has $36.27 Million Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Optimist Retirement Group LLC lessened its holdings in PACCAR Inc. (NASDAQ:PCAR) by 0.3% during the first quarter, Holdings Channel.com reports. The firm owned 372,522 shares of the company’s stock after selling 979 shares during the quarter. PACCAR comprises about 18.2% of Optimist Retirement Group LLC’s portfolio, making the stock its largest holding. Optimist Retirement Group LLC’s holdings in PACCAR were worth $36,272,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCAR. Teachers Retirement System of The State of Kentucky grew its holdings in shares of PACCAR by 4.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 40,512 shares of the company’s stock valued at $3,945,000 after buying an additional 1,760 shares during the last quarter. South Dakota Investment Council increased its holdings in shares of PACCAR by 4.4% in the 1st quarter. South Dakota Investment Council now owns 21,514 shares of the company’s stock worth $2,095,000 after buying an additional 900 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of PACCAR in the 1st quarter worth about $583,000. Denali Advisors LLC increased its holdings in shares of PACCAR by 8.3% in the 1st quarter. Denali Advisors LLC now owns 5,200 shares of the company’s stock worth $506,000 after buying an additional 400 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of PACCAR by 5.3% during the 1st quarter. Private Advisor Group LLC now owns 29,220 shares of the company’s stock worth $2,845,000 after purchasing an additional 1,465 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 0.4%

NASDAQ PCAR opened at $93.68 on Friday. The firm has a market cap of $49.18 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 3.50 and a beta of 0.94. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average price of $94.71 and a 200 day moving average price of $98.54.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The business’s revenue was down 16.0% on a year-over-year basis. During the same quarter last year, the business earned $2.27 EPS. As a group, sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, August 14th. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PCAR. Evercore ISI decreased their price objective on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Citigroup lifted their price objective on shares of PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, June 24th. UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $108.00 to $78.00 in a report on Monday, April 7th. Truist Financial decreased their price objective on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Finally, Royal Bank Of Canada decreased their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.59.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director owned 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.02% of the company’s stock.

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.