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

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Creative Planning boosted its position in shares of PACCAR by 7.5% in the second quarter. Creative Planning now owns 72,752 shares of the company’s stock worth $7,489,000 after purchasing an additional 5,073 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in PACCAR by 8.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 44,808 shares of the company’s stock worth $4,613,000 after buying an additional 3,622 shares in the last quarter. Quarry LP purchased a new stake in PACCAR in the 2nd quarter worth $26,000. Sanctuary Advisors LLC purchased a new position in shares of PACCAR in the second quarter valued at about $2,703,000. Finally, Heritage Wealth Management Inc. purchased a new position in shares of PACCAR in the second quarter valued at about $344,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is owned by corporate insiders.

PACCAR Trading Up 3.4 %

Shares of PCAR stock opened at $110.89 on Thursday. The company has a market cap of $58.14 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock’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 current ratio of 1.25 and a quick ratio of 1.03.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results 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%. Research analysts predict that PACCAR Inc will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PCAR. Truist Financial lifted their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday. Citigroup lowered their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.32.

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.