Jump Financial LLC Cuts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Jump Financial LLC lessened its position in PACCAR Inc (NASDAQ:PCAR) by 20.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,448 shares of the company’s stock after selling 1,629 shares during the quarter. Jump Financial LLC’s holdings in PACCAR were worth $671,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Morse Asset Management Inc purchased a new stake in PACCAR during the 3rd quarter valued at about $370,000. McIlrath & Eck LLC raised its holdings in PACCAR by 16.0% in the 3rd quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock valued at $2,769,000 after acquiring an additional 3,878 shares during the last quarter. World Investment Advisors LLC purchased a new position in PACCAR in the 3rd quarter worth approximately $419,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of PACCAR during the 3rd quarter worth approximately $269,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

NASDAQ:PCAR opened at $88.56 on Wednesday. The stock has a market capitalization of $46.49 billion, a P/E ratio of 11.20, a PEG ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a fifty-two week low of $85.05 and a fifty-two week high of $118.81. The company has a 50 day moving average price of $98.44 and a 200 day moving average price of $105.61.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities research analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is currently 16.69%.

Analyst Ratings Changes

PCAR has been the topic of a number of analyst reports. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Truist Financial lowered their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley cut shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and cut their price target for the stock from $108.00 to $78.00 in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $108.59.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.

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.