PACCAR Inc. (NASDAQ:PCAR) Shares Bought by JLB & Associates Inc.

JLB & Associates Inc. lifted its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 32.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,328 shares of the company's stock after purchasing an additional 12,741 shares during the quarter. JLB & Associates Inc.'s holdings in PACCAR were worth $5,095,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of PACCAR during the 4th quarter worth approximately $37,000. Sunbelt Securities Inc. raised its stake in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after buying an additional 350 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of PACCAR during the 4th quarter worth approximately $43,000. Finally, Atala Financial Inc purchased a new position in shares of PACCAR during the 4th quarter worth approximately $43,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCAR. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research note on Wednesday, April 16th. Truist Financial dropped their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. downgraded PACCAR from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Finally, Royal Bank Of Canada dropped their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $104.14.

Insiders Place Their Bets

In related news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

PACCAR stock traded down $0.38 during mid-day trading on Thursday, hitting $90.72. 2,702,689 shares of the company were exchanged, compared to its average volume of 2,743,349. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. The business's 50 day simple moving average is $92.12 and its two-hundred day simple moving average is $100.69. The company has a market capitalization of $47.62 billion, a P/E ratio of 13.75, a PEG ratio of 3.35 and a beta of 0.95. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The company had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same period in the previous year, the business posted $2.27 EPS. The business's quarterly revenue was down 16.0% on a year-over-year basis. Analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR's dividend payout ratio is presently 20.00%.

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.