Jump Financial LLC Acquires 48,815 Shares of PACCAR Inc. $PCAR

Key Points

• Jump Financial LLC significantly increased its holdings in PACCAR Inc. by 757.1% in the first quarter, acquiring 55,263 shares valued at approximately $5.38 million.
• Analysts have mixed ratings on PACCAR, with recent upgrades including a shift from "sell" to "hold," and a consensus rating of "Moderate Buy" with a price target of $107.68.
• PACCAR announced a quarterly dividend of $0.33, with an annualized yield of 1.3%, set to be paid on September 4th.

Jump Financial LLC increased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 757.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,263 shares of the company's stock after acquiring an additional 48,815 shares during the quarter. Jump Financial LLC's holdings in PACCAR were worth $5,381,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PCAR. Wellington Management Group LLP raised its holdings in shares of PACCAR by 20.1% during the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after acquiring an additional 3,379,165 shares during the period. Pacer Advisors Inc. raised its holdings in shares of PACCAR by 2,957.4% during the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock valued at $205,469,000 after acquiring an additional 2,041,168 shares during the period. Nuveen LLC acquired a new stake in shares of PACCAR during the first quarter valued at approximately $125,566,000. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 1,113,520 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after acquiring an additional 987,805 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

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

Analyst Upgrades and Downgrades

PCAR has been the topic of several research reports. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. lifted their price objective on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial cut their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $107.68.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $0.76 during trading hours on Thursday, hitting $100.68. 1,863,713 shares of the stock were exchanged, compared to its average volume of 2,858,027. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The company's 50 day moving average is $97.42 and its 200 day moving average is $96.70. The firm has a market capitalization of $52.87 billion, a P/E ratio of 17.24, a P/E/G ratio of 4.02 and a beta of 0.91. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 EPS. On average, research analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio is currently 22.60%.

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.