Johnson Financial Group Inc. Buys 6,907 Shares of PACCAR Inc. $PCAR

Johnson Financial Group Inc. grew its stake in PACCAR Inc. (NASDAQ:PCAR) by 25.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 33,609 shares of the company’s stock after buying an additional 6,907 shares during the quarter. Johnson Financial Group Inc.’s holdings in PACCAR were worth $3,304,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Private Wealth Management Group LLC grew its position in PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the period. AlphaQuest LLC purchased a new position in PACCAR during the 3rd quarter worth $38,000. Westside Investment Management Inc. lifted its stake in PACCAR by 100.0% during the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of PACCAR by 121.4% during the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock valued at $81,000 after buying an additional 454 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of PACCAR during the second quarter valued at approximately $81,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 1.1%

NASDAQ:PCAR opened at $116.82 on Friday. The business’s 50-day moving average price is $122.71 and its two-hundred day moving average price is $109.08. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $131.88. The firm has a market capitalization of $61.43 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 0.99 and a beta of 1.03. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.66 earnings per share. On average, equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

Insider Buying and Selling at PACCAR

In related news, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the transaction, the chief financial officer owned 903 shares of the company’s stock, valued at $117,760.23. This trade represents a 70.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 133,105 shares of company stock worth $16,869,046. 2.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on PCAR shares. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Morgan Stanley set a $109.00 price target on PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Citigroup upped their price target on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $116.50.

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.