Johnson Financial Group Inc. Acquires 19,791 Shares of PACCAR Inc (NASDAQ:PCAR)

Johnson Financial Group Inc. raised its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 145.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,417 shares of the company’s stock after buying an additional 19,791 shares during the quarter. Johnson Financial Group Inc.’s holdings in PACCAR were worth $3,705,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PCAR. Norges Bank purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $526,922,000. Kovitz Investment Group Partners LLC lifted its stake in PACCAR by 370.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock valued at $557,453,000 after acquiring an additional 4,219,964 shares during the period. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after acquiring an additional 3,364,650 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in shares of PACCAR in the fourth quarter worth approximately $254,651,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price on the stock. in a report on Wednesday, April 16th. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their price objective on PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $108.59.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 0.9 %

Shares of PCAR stock opened at $91.89 on Friday. The company’s fifty day simple moving average is $97.55 and its two-hundred day simple moving average is $105.35. PACCAR Inc has a 52 week low of $85.05 and a 52 week high of $118.81. The stock has a market cap of $48.24 billion, a P/E ratio of 11.62, a PEG ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.44%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

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.