Pacer Advisors Inc. Acquires 4,173 Shares of PACCAR Inc (NASDAQ:PCAR)

Pacer Advisors Inc. lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,019 shares of the company’s stock after buying an additional 4,173 shares during the quarter. Pacer Advisors Inc.’s holdings in PACCAR were worth $7,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PCAR. Everence Capital Management Inc. bought a new stake in PACCAR during the 4th quarter valued at approximately $1,984,000. Sanctuary Advisors LLC boosted its position in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. grew its stake in PACCAR by 2.9% in the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares during the period. Insight Wealth Strategies LLC raised its holdings in PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the period. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PCAR shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Morgan Stanley lowered their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.32.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value 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 trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Price Performance

PCAR opened at $110.89 on Thursday. The company’s 50-day simple moving average is $110.45 and its two-hundred day simple moving average is $104.45. 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 stock has a market capitalization of $58.14 billion, a P/E ratio of 12.39, a P/E/G ratio of 2.77 and a beta of 0.93. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. As a group, analysts predict that PACCAR Inc will post 7.93 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is 13.41%.

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.