Pacer Advisors Inc. boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 9.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 60,007 shares of the company’s stock after acquiring an additional 5,115 shares during the quarter. Pacer Advisors Inc.’s holdings in PACCAR were worth $4,201,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Destination Wealth Management bought a new position in PACCAR in the 2nd quarter valued at approximately $25,000. Virtus ETF Advisers LLC bought a new position in shares of PACCAR during the second quarter valued at $26,000. Advisory Services Network LLC raised its stake in shares of PACCAR by 149.4% during the second quarter. Advisory Services Network LLC now owns 434 shares of the company’s stock valued at $31,000 after acquiring an additional 260 shares during the last quarter. Enterprise Financial Services Corp raised its stake in shares of PACCAR by 76.8% during the second quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock valued at $35,000 after acquiring an additional 212 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of PACCAR during the second quarter valued at $41,000. 63.66% of the stock is owned by institutional investors and hedge funds.
PCAR opened at $69.10 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.43 and a quick ratio of 2.26. The company’s 50-day moving average is $67.81 and its 200 day moving average is $68.91. PACCAR Inc has a fifty-two week low of $53.43 and a fifty-two week high of $73.00. The firm has a market capitalization of $23.17 billion, a P/E ratio of 11.07, a PEG ratio of 1.41 and a beta of 1.26.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the business earned $1.59 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc will post 6.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, November 8th. PACCAR’s payout ratio is currently 20.51%.
In related news, VP David J. Danforth sold 848 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $71.66, for a total transaction of $60,767.68. Following the transaction, the vice president now directly owns 4,958 shares of the company’s stock, valued at $355,290.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.32% of the stock is owned by company insiders.
PCAR has been the subject of a number of analyst reports. BidaskClub upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Credit Suisse Group lifted their price objective on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. OTR Global cut shares of PACCAR from a “mixed” rating to a “negative” rating in a report on Wednesday. ValuEngine cut shares of PACCAR from a “hold” rating to a “sell” rating in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $70.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $68.89.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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