PACCAR Inc (NASDAQ:PCAR) Stake Lifted by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its stake in PACCAR Inc (NASDAQ:PCAR) by 3.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 244,612 shares of the company’s stock after buying an additional 9,030 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in PACCAR were worth $25,180,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jump Financial LLC grew its holdings in PACCAR by 12.9% in the 4th quarter. Jump Financial LLC now owns 3,984 shares of the company’s stock worth $389,000 after buying an additional 456 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of PACCAR by 3.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,734 shares of the company’s stock valued at $4,954,000 after purchasing an additional 1,893 shares during the period. Kingsview Wealth Management LLC raised its stake in shares of PACCAR by 3.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock valued at $315,000 after purchasing an additional 100 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in PACCAR by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 10,094 shares of the company’s stock worth $986,000 after purchasing an additional 186 shares during the period. Finally, Wells Fargo & Company MN grew its position in PACCAR by 13.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,079,908 shares of the company’s stock valued at $105,453,000 after buying an additional 126,720 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $96.32 on Thursday. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The firm’s 50 day simple moving average is $97.11 and its 200-day simple moving average is $106.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company has a market cap of $50.49 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 1.47 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 earnings per share. As a group, equities research analysts predict that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PCAR. Raymond James started coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial cut their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup dropped their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $112.73.

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.