Jupiter Topco LLC Takes Position in PACCAR Inc. $PCAR

Jupiter Topco LLC acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 66,969 shares of the company’s stock, valued at approximately $8,042,000.

Other large investors have also bought and sold shares of the company. Paladin Partners LLC bought a new position in PACCAR in the second quarter valued at approximately $27,000. MCF Advisors LLC increased its position in shares of PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares in the last quarter. Fiduciary Financial Advisors acquired a new stake in shares of PACCAR during the second quarter worth $28,000. Compass Financial Management LLC acquired a new stake in shares of PACCAR during the second quarter worth $28,000. Finally, Steph & Co. bought a new stake in PACCAR in the 1st quarter valued at $29,000. 64.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley set a $119.00 target price on shares of PACCAR in a research note on Wednesday, July 29th. Wells Fargo & Company lifted their price target on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $148.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Truist Financial increased their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $131.70.

PACCAR Stock Performance

Shares of PCAR opened at $125.34 on Monday. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24. The firm has a fifty day simple moving average of $127.35 and a 200 day simple moving average of $121.89. The stock has a market capitalization of $65.97 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.99 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Research analysts forecast that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

Insider Buying and Selling

In related news, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the transaction, the vice president owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. This represents a 43.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 in the last three months. Insiders own 1.99% of the company’s stock.

PACCAR Company 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.