Janney Montgomery Scott LLC Sells 6,150 Shares of PACCAR Inc. $PCAR

Janney Montgomery Scott LLC lowered its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 15.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,803 shares of the company’s stock after selling 6,150 shares during the period. Janney Montgomery Scott LLC’s holdings in PACCAR were worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. raised its position in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after buying an additional 240 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in PACCAR in the first quarter worth $29,000. Bayforest Capital Ltd increased its position in PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the last quarter. Accent Capital Management LLC bought a new stake in PACCAR in the first quarter worth $40,000. Finally, JFS Wealth Advisors LLC increased its position in PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 39,965 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PCAR has been the topic of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of PACCAR in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Citigroup boosted their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Vertical Research upgraded shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Finally, Argus upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.59.

PACCAR Stock Down 1.0%

Shares of PCAR opened at $95.73 on Thursday. The firm has a market capitalization of $50.27 billion, a P/E ratio of 16.39, a P/E/G ratio of 3.94 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average price of $98.87 and a 200-day moving average price of $95.62.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 earnings per share. Equities research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s payout ratio is currently 22.60%.

About PACCAR

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.