J2 Capital Management Inc Acquires Shares of 5,046 PACCAR Inc (NASDAQ:PCAR)

J2 Capital Management Inc bought a new stake in PACCAR Inc (NASDAQ:PCAR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,046 shares of the company's stock, valued at approximately $525,000.

A number of other large investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted 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 valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the period. JPMorgan Chase & Co. grew its position in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after buying an additional 1,164,692 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in PACCAR during the third quarter worth approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company's stock worth $106,047,000 after acquiring an additional 576,532 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Trading Up 0.8 %

Shares of NASDAQ:PCAR traded up $0.85 during mid-day trading on Friday, reaching $110.33. 1,981,144 shares of the company's stock were exchanged, compared to its average volume of 1,920,377. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The firm has a market capitalization of $57.85 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.72 and a beta of 0.93. The business's fifty day moving average price is $111.10 and its 200-day moving average price is $104.05.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to analysts' expectations of $7.66 billion. During the same period in the prior year, the company posted $2.34 earnings per share. PACCAR's revenue for the quarter was down 5.2% compared to the same quarter last year. On average, research analysts predict that PACCAR Inc will post 7.92 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is currently 13.41%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several analyst reports. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and raised their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Finally, Citigroup cut 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. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $120.13.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the company's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company's stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. 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 quarter. Company 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.