Everence Capital Management Inc. Acquires Shares of 19,070 PACCAR Inc (NASDAQ:PCAR)

Everence Capital Management Inc. bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,070 shares of the company’s stock, valued at approximately $1,984,000.

Other large investors have also modified their holdings of the company. 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 in the last quarter. Mengis Capital Management Inc. boosted its stake 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 acquiring an additional 5,433 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of PACCAR by 1.8% in 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 period. Public Employees Retirement System of Ohio increased its stake in PACCAR by 2.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 278,304 shares of the company’s stock valued at $27,463,000 after purchasing an additional 7,189 shares in the last quarter. Finally, Fortem Financial Group LLC acquired a new position in PACCAR during the third quarter worth $797,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PCAR. Citigroup raised their price target on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Truist Financial increased their price target on shares of PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus price target of $118.50.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Up 1.4 %

Shares of PCAR opened at $104.90 on Friday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company’s fifty day moving average is $111.00 and its two-hundred day moving average is $103.82. The firm has a market cap of $55.00 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. 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) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 EPS. Analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend is Friday, December 20th. PACCAR’s payout ratio is currently 14.75%.

About PACCAR

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.