PACCAR Inc. $PCAR Stock Holdings Trimmed by Johnson Financial Group Inc.

Johnson Financial Group Inc. lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 14.8% in the first quarter, HoldingsChannel reports. The fund 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 filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ares Financial Consulting LLC acquired a new position in shares of PACCAR during the fourth quarter valued at $27,000. MCF Advisors LLC lifted its holdings in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares during the period. Steph & Co. acquired a new stake in PACCAR in the first quarter worth about $29,000. Elyxium Wealth LLC bought a new position in PACCAR in the 4th quarter valued at about $30,000. Finally, Wealth Watch Advisors INC bought a new position in PACCAR in the 3rd quarter valued at about $32,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $124.33 on Tuesday. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $117.55 and a two-hundred day moving average of $119.75. The company has a market capitalization of $65.43 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.16 and a beta of 0.97.

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

PACCAR Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on PCAR shares. Morgan Stanley boosted their price target on shares of PACCAR from $109.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Friday. Citigroup reiterated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. upped their target price on PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $124.18.

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.