Johnson Financial Group Inc. Decreases Stake in PACCAR Inc. $PCAR

Johnson Financial Group Inc. cut its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 14.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,003 shares of the company’s stock after selling 5,395 shares during the period. Johnson Financial Group Inc.’s holdings in PACCAR were worth $3,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PCAR. Nomura Asset Management Co. Ltd. lifted its stake in PACCAR by 2.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after purchasing an additional 9,524 shares during the last quarter. Nordea Investment Management AB boosted its holdings in PACCAR by 12.6% in the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after purchasing an additional 13,668 shares during the period. Merit Financial Group LLC increased its stake in PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after purchasing an additional 15,169 shares during the last quarter. Vanguard Group Inc. increased its stake in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after purchasing an additional 363,782 shares during the last quarter. Finally, Swiss Life Asset Management Ltd increased its stake in PACCAR by 118.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock valued at $69,943,000 after purchasing an additional 345,937 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PCAR shares. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. Citigroup reissued a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Finally, Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.18.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $124.33 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The firm has a market capitalization of $65.43 billion, a PE ratio of 26.45, a P/E/G ratio of 1.16 and a beta of 0.97. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $131.88. The business’s fifty day moving average price is $117.55 and its two-hundred day moving average price is $119.75.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. On average, research analysts expect that PACCAR Inc. will post 5.65 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s payout ratio is presently 29.79%.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.