JPMorgan Chase & Co. Acquires 426,311 Shares of PACCAR Inc (NASDAQ:PCAR)

JPMorgan Chase & Co. raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 12.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,941,495 shares of the company's stock after acquiring an additional 426,311 shares during the period. JPMorgan Chase & Co. owned approximately 0.75% of PACCAR worth $409,994,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in PACCAR in the fourth quarter valued at about $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR in the 4th quarter valued at about $37,000. OFI Invest Asset Management acquired a new stake in shares of PACCAR in the 4th quarter valued at approximately $43,000. Atala Financial Inc bought a new position in PACCAR during the 4th quarter worth approximately $43,000. Finally, Regents Gate Capital LLP acquired a new position in PACCAR during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company's stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. 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. 2.02% of the stock is owned by insiders.

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PACCAR Price Performance

PCAR traded up $0.92 during trading on Tuesday, hitting $98.29. 2,193,917 shares of the stock traded hands, compared to its average volume of 2,651,727. The business has a 50 day moving average price of $104.93 and a 200 day moving average price of $106.74. The company has a market cap of $51.60 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $124.39. 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 (NASDAQ:PCAR - Get Free Report) last announced 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%. Equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

Analyst Ratings Changes

PCAR has been the topic of a number of recent analyst reports. Evercore ISI reduced their price target on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Citigroup dropped their target price on PACCAR from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. UBS Group cut PACCAR from a "buy" rating to a "neutral" rating and dropped their price target for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. Eight 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 stock. According to MarketBeat, PACCAR has a consensus rating of "Moderate Buy" and an average target price of $117.54.

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.