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

Key Points

• Pacer Advisors Inc. increased its stake in PACCAR Inc. by 2,957.4% during the first quarter, owning over 2 million shares valued at approximately $205 million.
• Insider Pierre R. Breber purchased 5,000 shares of PACCAR at an average price of $89.78, increasing his position by 62.38%.
• Research firms are mixed on PACCAR's outlook, with Morgan Stanley downgrading the stock to "equal weight" and various analysts issuing target prices ranging from $96.00 to $106.45.

Pacer Advisors Inc. lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2,957.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,110,187 shares of the company's stock after purchasing an additional 2,041,168 shares during the period. Pacer Advisors Inc. owned about 0.40% of PACCAR worth $205,469,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in PACCAR in the first quarter valued at $29,000. Sunbelt Securities Inc. raised its holdings in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock valued at $43,000 after acquiring an additional 174 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director owned 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PCAR. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a report on Wednesday, April 16th. Truist Financial cut their price target on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday. Wall Street Zen cut shares of PACCAR from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Royal Bank Of Canada cut their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Finally, Citigroup upped their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $106.45.

PACCAR Stock Up 0.3%

PACCAR stock opened at $101.43 on Friday. The company has a 50-day simple moving average of $94.94 and a 200-day simple moving average of $98.40. The firm has a market capitalization of $53.25 billion, a P/E ratio of 17.37, a P/E/G ratio of 3.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 1.73. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR's revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 EPS. As a group, equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.30%. PACCAR's dividend payout ratio (DPR) is 20.00%.

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.

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