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

Pacer Advisors Inc. grew its position in PACCAR Inc (NASDAQ:PCAR) by 29.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,727 shares of the company’s stock after purchasing an additional 16,390 shares during the period. Pacer Advisors Inc.’s holdings in PACCAR were worth $7,004,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of PACCAR by 2.0% in the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after purchasing an additional 698,784 shares during the period. State Street Corp boosted its stake in shares of PACCAR by 49.0% in the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock worth $1,562,477,000 after buying an additional 7,020,923 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of PACCAR by 53.3% in the first quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock worth $858,948,000 after buying an additional 4,082,677 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after buying an additional 23,865 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of PACCAR by 6.0% in the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after buying an additional 316,001 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,589,751.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Price Performance

NASDAQ:PCAR opened at $124.46 on Thursday. PACCAR Inc has a 52 week low of $67.48 and a 52 week high of $124.89. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $65.22 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.92 and a beta of 0.91. The stock’s fifty day moving average is $109.34 and its two-hundred day moving average is $96.67.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the previous year, the firm posted $1.76 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Equities analysts expect that PACCAR Inc will post 8.13 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.87%. PACCAR’s payout ratio is 12.31%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PCAR. JPMorgan Chase & Co. upped their target price on PACCAR from $116.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Evercore ISI lifted their price target on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Morgan Stanley assumed coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target on the stock. Truist Financial began coverage on PACCAR in a research note on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target on the stock. Finally, Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and an average target price of $109.39.

About PACCAR

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.