PACCAR Inc (NASDAQ:PCAR) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,588 shares of the company's stock after selling 11,768 shares during the quarter. Manning & Napier Advisors LLC's holdings in PACCAR were worth $14,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PCAR. Creative Planning boosted its stake in shares of PACCAR by 7.5% during the 2nd quarter. Creative Planning now owns 72,752 shares of the company's stock worth $7,489,000 after purchasing an additional 5,073 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of PACCAR by 8.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 44,808 shares of the company's stock worth $4,613,000 after purchasing an additional 3,622 shares during the last quarter. Quarry LP acquired a new stake in shares of PACCAR during the 2nd quarter worth about $26,000. Sanctuary Advisors LLC acquired a new stake in shares of PACCAR in the second quarter worth approximately $2,703,000. Finally, Heritage Wealth Management Inc. acquired a new stake in shares of PACCAR in the second quarter worth approximately $344,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 1.5 %

Shares of PCAR traded up $1.62 during mid-day trading on Thursday, reaching $112.51. 2,812,648 shares of the stock traded hands, compared to its average volume of 2,440,987. The firm has a market cap of $58.99 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 2.77 and a beta of 0.93. The stock has a fifty day simple moving average of $110.47 and a 200 day simple moving average of $104.49. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. Sell-side analysts expect that PACCAR Inc will post 7.93 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is 16.69%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BNP Paribas raised shares of PACCAR to a "hold" rating in a research report on Wednesday, October 16th. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Citigroup decreased their target price on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and raised their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Finally, Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, PACCAR presently has a consensus rating of "Moderate Buy" and an average target price of $121.32.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.02% of the company's stock.

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.