JLB & Associates Inc. Decreases Stock Holdings in PACCAR Inc. $PCAR

Key Points

• JLB & Associates Inc. has decreased its stock holdings in PACCAR Inc. by 6.5%, reducing their position to 48,921 shares after selling 3,407 shares in the second quarter.
• Insider transactions include CFO Brice J. Poplawski selling 5,000 shares, representing a 91.44% decrease in ownership, while CEO R Preston Feight sold 39,965 shares, reducing his stake by 15.19%.
• Several analysts have upgraded PACCAR's stock ratings, with Argus raising it to a "buy" and setting a price target of $121.00, while the consensus rating is a "Moderate Buy" with a target of approximately $107.68.

JLB & Associates Inc. reduced its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 6.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 48,921 shares of the company's stock after selling 3,407 shares during the quarter. JLB & Associates Inc.'s holdings in PACCAR were worth $4,650,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PCAR. Vanguard Group Inc. raised its stake in PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock valued at $6,133,914,000 after purchasing an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after buying an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of PACCAR by 9.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after buying an additional 987,805 shares during the last quarter. Northern Trust Corp increased its stake in PACCAR by 0.5% during the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock worth $704,956,000 after acquiring an additional 37,609 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in PACCAR by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock valued at $594,277,000 after purchasing an additional 97,197 shares during the period. Institutional investors own 64.90% of the company's stock.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares of the company's stock, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PCAR. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research note on Monday, July 28th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and upped their price target for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

PACCAR Stock Down 0.6%

Shares of PCAR opened at $99.85 on Tuesday. The firm has a fifty day moving average price of $99.22 and a 200-day moving average price of $95.64. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $52.43 billion, a P/E ratio of 17.10, a P/E/G ratio of 4.03 and a beta of 0.94. 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 announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the business posted $2.13 EPS. Equities research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR's payout ratio is presently 22.60%.

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.

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