Jones Financial Companies Lllp Raises Position in PACCAR Inc. $PCAR

Key Points

• Jones Financial Companies Lllp increased its holdings in PACCAR Inc. by 16,393.9% during Q1, owning over 1.4 million shares valued at approximately $139.4 million.
• PACCAR's most recent dividend was declared at $0.33 per share, leading to an annual yield of 1.3% and a payout ratio of 22.60%.
• The company reported Q2 earnings of $1.37 EPS, beating estimates, but saw revenue decline by 15.7% year-over-year to $6.96 billion.

Jones Financial Companies Lllp raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 16,393.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,431,672 shares of the company's stock after acquiring an additional 1,422,992 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.27% of PACCAR worth $139,402,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. FORA Capital LLC acquired a new stake in shares of PACCAR in the 1st quarter valued at approximately $597,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of PACCAR by 15.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock valued at $77,404,000 after purchasing an additional 104,281 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of PACCAR by 62.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock worth $3,533,000 after buying an additional 13,904 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in PACCAR by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after purchasing an additional 4,429 shares in the last quarter. Finally, Moran Wealth Management LLC raised its position in shares of PACCAR by 28.8% in the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock valued at $22,898,000 after buying an additional 52,525 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 1.2%

PACCAR stock traded up $1.13 during trading on Wednesday, hitting $98.66. 2,075,405 shares of the company were exchanged, compared to its average volume of 1,997,904. The company has a market capitalization of $51.81 billion, a P/E ratio of 15.38, a PEG ratio of 3.92 and a beta of 0.94. The business's 50 day moving average is $98.30 and its 200 day moving average is $96.20. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results 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. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the business posted $2.13 EPS. The business's revenue was down 15.7% compared to the same quarter last year. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. upped their price objective on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial cut their target price on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.68.

Insider Buying and Selling

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

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.