PACCAR Inc. $PCAR Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 14.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,726,119 shares of the company’s stock after selling 284,718 shares during the period. Pacer Advisors Inc. owned approximately 0.33% of PACCAR worth $189,027,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new stake in PACCAR in the fourth quarter valued at approximately $43,000. Compound Planning Inc. grew its position in PACCAR by 10.0% during the fourth quarter. Compound Planning Inc. now owns 6,889 shares of the company’s stock valued at $754,000 after buying an additional 625 shares during the period. Invesco Ltd. grew its position in shares of PACCAR by 1.5% during the 4th quarter. Invesco Ltd. now owns 5,478,934 shares of the company’s stock valued at $599,998,000 after acquiring an additional 82,046 shares during the period. Corient Private Wealth LLC increased its position in shares of PACCAR by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 1,403,105 shares of the company’s stock valued at $153,177,000 after buying an additional 80,323 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in PACCAR by 2.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 200,176 shares of the company’s stock worth $21,921,000 after acquiring an additional 3,892 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on PCAR shares. JPMorgan Chase & Co. cut their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Citigroup reaffirmed a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. Finally, Truist Financial lifted their price target on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average target price of $122.00.

PACCAR Stock Performance

Shares of PACCAR stock opened at $118.95 on Friday. PACCAR Inc. has a one year low of $90.05 and a one year high of $131.88. The business has a 50-day simple moving average of $117.74 and a 200-day simple moving average of $118.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The company has a market cap of $62.60 billion, a PE ratio of 25.31, a P/E/G ratio of 1.09 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the business earned $1.46 EPS. The company’s revenue was down 9.8% on a year-over-year basis. On average, equities research analysts forecast that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were paid a $0.35 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, May 13th. PACCAR’s payout ratio is currently 29.79%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.