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

JLB & Associates Inc. increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 236.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,875 shares of the company’s stock after buying an additional 24,507 shares during the quarter. JLB & Associates Inc.’s holdings in PACCAR were worth $3,441,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. YHB Investment Advisors Inc. acquired a new stake in shares of PACCAR in the first quarter worth $27,000. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR in the 1st quarter valued at about $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR in the first quarter worth about $29,000. Rise Advisors LLC purchased a new position in PACCAR during the first quarter valued at approximately $31,000. Finally, Quarry LP acquired a new position in PACCAR in the second quarter valued at approximately $26,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

PACCAR stock opened at $97.92 on Thursday. The company has a fifty day simple moving average of $95.78 and a 200-day simple moving average of $105.20. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $51.33 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 1.52 and a beta of 0.91. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The firm’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts anticipate that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.23%. PACCAR’s payout ratio is 12.45%.

Analyst Ratings Changes

PCAR has been the subject of several recent research reports. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Citigroup dropped their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Truist Financial reduced their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. cut their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $112.73.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

PACCAR 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.