Johnson Financial Group Inc. Boosts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Johnson Financial Group Inc. boosted its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 145.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,417 shares of the company's stock after purchasing an additional 19,791 shares during the period. Johnson Financial Group Inc.'s holdings in PACCAR were worth $3,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of PACCAR in the 4th quarter worth approximately $526,922,000. Kovitz Investment Group Partners LLC grew its holdings in PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after purchasing an additional 4,219,964 shares during the last quarter. Wellington Management Group LLP grew its holdings in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in PACCAR in the fourth quarter valued at $254,651,000. Finally, JPMorgan Chase & Co. grew its holdings in PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PCAR shares. Melius raised PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a report on Wednesday, April 16th. Truist Financial lowered their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Citigroup lowered their target price on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and increased their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $108.59.

PACCAR Trading Up 0.2 %

Shares of NASDAQ PCAR traded up $0.15 during midday trading on Monday, hitting $92.04. The stock had a trading volume of 3,381,905 shares, compared to its average volume of 2,753,086. The company has a market capitalization of $48.32 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1-year low of $85.05 and a 1-year high of $118.81. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $97.24 and a 200 day moving average price of $105.27.

PACCAR (NASDAQ:PCAR - Get Free Report) last released 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 net margin of 12.36% and a return on equity of 23.53%. On average, analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company 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 a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's payout ratio is currently 16.69%.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael K. Walton sold 6,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were 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 in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last three months. Corporate insiders own 2.02% of the company's stock.

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.