Jones Financial Companies Lllp Acquires 3,562 Shares of PACCAR Inc (NASDAQ:PCAR)

Jones Financial Companies Lllp increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 69.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,680 shares of the company’s stock after buying an additional 3,562 shares during the quarter. Jones Financial Companies Lllp’s holdings in PACCAR were worth $903,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after buying an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after buying an additional 3,296,146 shares in the last quarter. Fisher Asset Management LLC increased its holdings in 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 buying an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. boosted its position in PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in PACCAR by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock worth $364,690,000 after purchasing an additional 61,457 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PCAR. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. raised their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Truist Financial raised their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

PACCAR Stock Up 3.0 %

NASDAQ PCAR opened at $110.06 on Friday. The stock’s 50 day moving average is $107.27 and its 200 day moving average is $106.08. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market cap of $57.76 billion, a PE ratio of 13.91, a P/E/G ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Research analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 16.69%.

Insider Buying and Selling

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

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.