J2 Capital Management Inc Invests $525,000 in PACCAR Inc (NASDAQ:PCAR)

J2 Capital Management Inc purchased a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,046 shares of the company’s stock, valued at approximately $525,000.

Several other institutional investors have also added to or reduced their stakes in PCAR. Quarry LP purchased a new position in shares of PACCAR during the second quarter valued at approximately $26,000. Grove Bank & Trust boosted its holdings in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares in the last quarter. Sander Capital Advisors Inc. purchased a new position in PACCAR during the 3rd quarter valued at $50,000. Ashton Thomas Securities LLC bought a new position in PACCAR in the 3rd quarter worth $52,000. Finally, AdvisorNet Financial Inc lifted its position in shares of PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after purchasing an additional 391 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $110.33 on Friday. The stock has a market cap of $57.85 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm’s 50-day moving average is $111.10 and its 200 day moving average is $104.03.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter last year, the firm earned $2.34 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc will post 7.92 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCAR. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Truist Financial increased their price objective on PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PACCAR has a consensus rating of “Hold” and an average target price of $120.13.

PACCAR Company 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.