PACCAR Inc (NASDAQ:PCAR) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 49.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,515,184 shares of the company’s stock after acquiring an additional 1,164,692 shares during the quarter. JPMorgan Chase & Co. owned about 0.67% of PACCAR worth $346,878,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of PACCAR during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. boosted its position in 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in PACCAR during the second quarter worth $36,000. Grove Bank & Trust grew its holdings in 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 purchasing an additional 103 shares during the last quarter. Finally, Sander Capital Advisors Inc. acquired a new position in shares of PACCAR during the 3rd quarter worth $50,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $104.57 on Monday. The company has a market cap of $54.83 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.77 and a beta of 0.91. The firm’s 50 day moving average is $111.16 and its two-hundred day moving average is $103.86. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week 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) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 EPS. Analysts expect that PACCAR Inc will post 7.98 EPS 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. The ex-dividend date is Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 14.75%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PCAR shares. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Finally, BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $118.50.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,191 shares of the business’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 completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 in the last three months. 2.02% of the stock is owned by insiders.

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.