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

J2 Capital Management Inc bought a new position in PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, Holdings Channel reports. The firm bought 5,046 shares of the company’s stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 49.6% in the 3rd 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 period. Erste Asset Management GmbH purchased a new position in shares of PACCAR in the 3rd quarter worth approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of 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 valued at $106,047,000 after purchasing an additional 576,532 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on PCAR shares. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $120.13.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares of the company’s stock, valued at $761,947. The trade was a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 over the last quarter. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

PCAR opened at $110.33 on Friday. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The business’s fifty day simple moving average is $111.10 and its 200-day simple moving average is $104.03. The company 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 company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The company 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%. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.34 earnings per share. On average, equities research analysts anticipate that PACCAR Inc will post 7.92 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is 13.41%.

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.