PACCAR Inc (NASDAQ:PCAR) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV cut its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,620 shares of the company's stock after selling 16,345 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in PACCAR were worth $27,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its stake in shares of PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after buying an additional 193 shares during the period. Golden State Wealth Management LLC bought a new position in shares of PACCAR in the 4th quarter worth about $37,000. Kestra Investment Management LLC purchased a new position in PACCAR during the 4th quarter valued at about $37,000. OFI Invest Asset Management bought a new stake in PACCAR during the fourth quarter worth about $43,000. Finally, Atala Financial Inc bought a new position in shares of PACCAR during the fourth quarter valued at approximately $43,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Up 0.3 %

PACCAR stock traded up $0.28 during trading hours on Wednesday, reaching $89.26. The stock had a trading volume of 661,590 shares, compared to its average volume of 2,748,308. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a market cap of $46.86 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The business's 50 day moving average price is $95.31 and its 200-day moving average price is $104.53.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm's revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.27 EPS. Sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.48%. PACCAR's payout ratio is 20.00%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PCAR. StockNews.com cut PACCAR from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and upped their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Truist Financial reduced their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PACCAR currently has a consensus rating of "Hold" and a consensus target price of $107.23.

Insider Buying and Selling at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

PACCAR 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.