Manning & Napier Advisors LLC Sells 11,768 Shares of PACCAR Inc (NASDAQ:PCAR)

Manning & Napier Advisors LLC trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new position in shares of PACCAR in the 4th quarter valued at about $1,984,000. Sanctuary Advisors LLC boosted its holdings in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. grew its position in shares of PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after buying an additional 5,433 shares during the period. Insight Wealth Strategies LLC increased its stake in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Citigroup decreased their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.32.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded up $3.64 during trading on Wednesday, reaching $110.89. 674,027 shares of the stock were exchanged, compared to its average volume of 2,245,041. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a 50-day moving average price of $110.45 and a 200-day moving average price of $104.45. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a market cap of $58.14 billion, a PE ratio of 12.40, a PEG ratio of 2.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. Research analysts expect that PACCAR Inc will post 7.93 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is currently 13.41%.

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.