Mercer Global Advisors Inc. ADV Purchases 9,030 Shares of PACCAR Inc (NASDAQ:PCAR)

Mercer Global Advisors Inc. ADV increased its position in PACCAR Inc (NASDAQ:PCAR) by 3.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 244,612 shares of the company’s stock after acquiring an additional 9,030 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in PACCAR were worth $25,180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after purchasing an additional 171,317 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of PACCAR by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after buying an additional 83,444 shares during the last quarter. Capital International Investors boosted its stake in shares of PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of PACCAR by 1.5% during the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after acquiring an additional 48,784 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of PACCAR by 0.9% during the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock valued at $268,551,000 after acquiring an additional 23,394 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PCAR shares. Citigroup decreased their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Evercore ISI decreased their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial decreased their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, Raymond James initiated coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $112.73.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Down 1.7 %

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

PACCAR (NASDAQ:PCAR) last announced 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 analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. On average, research analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

The firm 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 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.