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

Pacer Advisors Inc. grew its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 29.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 71,727 shares of the company's stock after acquiring 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 reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PCAR. Raymond James Financial Services Advisors Inc. raised its holdings in shares of PACCAR by 18.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company's stock worth $10,450,000 after acquiring an additional 16,360 shares in the last quarter. CVA Family Office LLC bought a new position in PACCAR during the fourth quarter valued at about $71,000. Raymond James & Associates raised its holdings in PACCAR by 121.1% during the fourth quarter. Raymond James & Associates now owns 175,990 shares of the company's stock valued at $17,185,000 after buying an additional 96,375 shares in the last quarter. HB Wealth Management LLC raised its holdings in PACCAR by 15.9% during the fourth quarter. HB Wealth Management LLC now owns 5,797 shares of the company's stock valued at $566,000 after buying an additional 796 shares in the last quarter. Finally, Premier Path Wealth Partners LLC bought a new position in PACCAR during the fourth quarter valued at about $323,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Down 0.5 %

Shares of PACCAR stock traded down $0.57 during trading hours on Thursday, reaching $123.89. 2,280,819 shares of the company's stock were exchanged, compared to its average volume of 2,323,058. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $109.94 and a two-hundred day moving average of $96.87. The stock has a market cap of $64.92 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.92 and a beta of 0.91. PACCAR Inc has a fifty-two week low of $67.48 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same quarter last year, the business posted $1.76 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that PACCAR Inc will post 8.13 EPS for the current fiscal year.

PACCAR Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial assumed coverage on PACCAR in a research note on Thursday, March 14th. They issued a "hold" rating and a $117.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on PACCAR from $116.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 5th. UBS Group raised PACCAR from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Bank of America raised PACCAR from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. Finally, Evercore ISI lifted their target price on PACCAR from $94.00 to $101.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $109.39.

Insider Buying and Selling

In related news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares of the company's stock, valued at $493,675,224.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the business's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of the business's stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock valued at $15,834,812 over the last quarter. Insiders own 2.02% of the company's stock.

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.