Everence Capital Management Inc. Takes $1.98 Million Position in PACCAR Inc (NASDAQ:PCAR)

Everence Capital Management Inc. acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,070 shares of the company's stock, valued at approximately $1,984,000.

A number of other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new position in PACCAR during the second quarter worth about $26,000. Meeder Asset Management Inc. increased its holdings in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock worth $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of PACCAR in the second quarter valued at approximately $36,000. Grove Bank & Trust boosted its stake in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock valued at $46,000 after buying an additional 103 shares during the period. Finally, Sander Capital Advisors Inc. acquired a new stake in PACCAR during the third quarter worth approximately $50,000. Institutional investors own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent analyst reports. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Truist Financial upped their price target on shares of PACCAR from $107.00 to $110.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Finally, Evercore ISI raised shares of PACCAR from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PACCAR has an average rating of "Hold" and an average target price of $118.50.

PACCAR Price Performance

PCAR stock traded up $1.48 during midday trading on Friday, reaching $104.90. 1,937,148 shares of the stock were exchanged, compared to its average volume of 1,654,274. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a fifty day moving average price of $110.98 and a 200 day moving average price of $103.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The stock has a market capitalization of $55.00 billion, a PE ratio of 11.72, a P/E/G ratio of 1.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $7.66 billion. During the same period in the previous year, the business posted $2.34 earnings per share. The business's quarterly revenue was down 5.2% compared to the same quarter last year. As a group, analysts expect that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 20th. This is an increase from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is presently 14.75%.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares of the company's stock, valued at $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares of the company's stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company's stock.

PACCAR Company 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.