PACCAR Inc (NASDAQ:PCAR) Holdings Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,941,495 shares of the company’s stock after purchasing an additional 426,311 shares during the period. JPMorgan Chase & Co. owned approximately 0.75% of PACCAR worth $409,994,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in PACCAR during the 4th quarter worth about $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR in the fourth quarter worth approximately $37,000. OFI Invest Asset Management acquired a new stake in shares of PACCAR during the fourth quarter worth approximately $43,000. Atala Financial Inc purchased a new position in PACCAR during the fourth quarter valued at approximately $43,000. Finally, Regents Gate Capital LLP acquired a new position in PACCAR in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 1.3 %

PACCAR stock opened at $96.91 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $124.39. The firm has a fifty day moving average price of $105.19 and a two-hundred day moving average price of $106.64. The firm has a market cap of $50.87 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. Jefferies Financial Group lowered 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. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Melius raised PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.38.

Insider Buying and Selling

In related news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by company insiders.

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.