PACCAR Inc (NASDAQ:PCAR) Stake Lowered by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its position in PACCAR Inc (NASDAQ:PCAR) by 4.9% during the 3rd quarter, according to the company in its most recent 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 period. Pacer Advisors Inc.’s holdings in PACCAR were worth $6,399,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PCAR. Shell Asset Management Co. acquired a new stake in shares of PACCAR in the first quarter worth $414,000. CreativeOne Wealth LLC acquired a new stake in PACCAR in the 1st quarter worth $404,000. Advisors Asset Management Inc. increased its holdings in shares of PACCAR by 43.5% during the 1st quarter. Advisors Asset Management Inc. now owns 16,913 shares of the company’s stock worth $2,095,000 after purchasing an additional 5,129 shares during the period. Quadrature Capital Ltd acquired a new position in shares of PACCAR during the first quarter valued at about $534,000. Finally, LRI Investments LLC bought a new stake in shares of PACCAR in the first quarter valued at about $65,000. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last quarter. Insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.6 %

Shares of PCAR opened at $114.75 on Friday. The stock has a fifty day moving average price of $105.77 and a two-hundred day moving average price of $103.02. 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 company has a market cap of $60.16 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.79 and a beta of 0.89. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 EPS. Analysts predict that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

Analyst Ratings Changes

A number of analysts have commented on the company. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Citigroup upped their target price on shares of PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley cut 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. JPMorgan Chase & Co. lowered their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $117.64.

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.