PACCAR Inc (NASDAQ:PCAR) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,846 shares of the company’s stock after selling 3,376 shares during the quarter. Pacer Advisors Inc.’s holdings in PACCAR were worth $6,399,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BDF Gestion acquired a new stake in shares of PACCAR in the 2nd quarter worth about $2,862,000. Mengis Capital Management Inc. raised its holdings in shares of PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after buying an additional 5,433 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of PACCAR during the first quarter worth approximately $1,359,000. Comerica Bank grew its holdings in PACCAR by 8.7% in the 1st quarter. Comerica Bank now owns 162,864 shares of the company’s stock worth $20,177,000 after buying an additional 13,075 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in PACCAR by 28.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock valued at $2,552,000 after acquiring an additional 5,437 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

NASDAQ PCAR opened at $114.75 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The business’s fifty day moving average is $105.77 and its two-hundred day moving average is $103.02. The stock has a market capitalization of $60.16 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the business posted $2.34 earnings per share. PACCAR’s revenue was down 5.2% compared to the same quarter last year. On average, research analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 over the last 90 days. 2.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup boosted their price target on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley reduced their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus price target of $117.64.

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.