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

Pacer Advisors Inc. boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,222 shares of the company’s stock after acquiring an additional 1,776 shares during the period. Pacer Advisors Inc.’s holdings in PACCAR were worth $7,023,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. bought a new stake in PACCAR in the first quarter worth about $27,000. New Covenant Trust Company N.A. bought a new stake in PACCAR in the first quarter worth about $27,000. Riverview Trust Co bought a new stake in PACCAR in the first quarter worth about $29,000. Rise Advisors LLC bought a new stake in PACCAR in the first quarter worth about $31,000. Finally, Meeder Asset Management Inc. raised its position in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the company’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 owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PCAR shares. Raymond James started coverage on shares of PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price target 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. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. 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 research report on Wednesday, July 24th. 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 report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and an average price target of $112.73.

PACCAR Price Performance

PCAR stock opened at $98.79 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The stock has a market cap 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 firm has a 50 day simple moving average of $96.84 and a two-hundred day simple moving average of $105.97.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period in the prior year, the firm earned $2.33 EPS. PACCAR’s quarterly revenue was down 2.1% on a year-over-year basis. On average, analysts predict that PACCAR Inc will post 8.08 EPS for the current fiscal 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 paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.21%. PACCAR’s dividend payout ratio is presently 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.