Pacer Advisors Inc. Purchases 1,776 Shares of PACCAR Inc (NASDAQ:PCAR)

Pacer Advisors Inc. increased its position in PACCAR Inc (NASDAQ:PCAR) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 68,222 shares of the company’s stock after purchasing an additional 1,776 shares during the quarter. Pacer Advisors Inc.’s holdings in PACCAR were worth $7,023,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PCAR. Capital International Investors raised its holdings in PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares during the period. TD Asset Management Inc raised its holdings in PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after acquiring an additional 1,095,894 shares during the period. Point72 Asset Management L.P. bought a new position in PACCAR in the 4th quarter valued at about $87,441,000. Renaissance Technologies LLC bought a new position in PACCAR in the 2nd quarter valued at about $88,437,000. Finally, Epoch Investment Partners Inc. raised its holdings in PACCAR by 113.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock valued at $103,408,000 after acquiring an additional 562,571 shares during the period. 64.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PCAR has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Citigroup decreased their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Raymond James initiated coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Evercore ISI decreased their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $112.73.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $98.79 on Tuesday. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The firm has a fifty day simple moving average of $96.84 and a 200 day simple moving average of $105.97. The company has a market capitalization of $51.79 billion, a PE ratio of 10.25, a P/E/G ratio of 1.48 and a beta of 0.91. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.33 EPS. On average, sell-side analysts forecast that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is 12.45%.

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.