Janney Montgomery Scott LLC Lowers Position in PACCAR Inc. $PCAR

Janney Montgomery Scott LLC cut its holdings in PACCAR Inc. (NASDAQ:PCAR) by 15.0% in the second quarter, Holdings Channel reports. The fund owned 34,803 shares of the company’s stock after selling 6,150 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PACCAR were worth $3,308,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PCAR. Brighton Jones LLC lifted its position in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after buying an additional 290 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of PACCAR by 9.2% during the first quarter. Park Avenue Securities LLC now owns 25,400 shares of the company’s stock valued at $2,473,000 after buying an additional 2,138 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of PACCAR by 26.4% during the first quarter. Farther Finance Advisors LLC now owns 9,434 shares of the company’s stock valued at $927,000 after buying an additional 1,970 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of PACCAR during the first quarter valued at about $288,000. Finally, Signet Financial Management LLC lifted its position in shares of PACCAR by 113.8% during the first quarter. Signet Financial Management LLC now owns 14,956 shares of the company’s stock valued at $1,456,000 after buying an additional 7,961 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PCAR shares. Weiss Ratings reissued a “buy (b-)” rating on shares of PACCAR in a research report on Wednesday. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an “outperform” rating in a research report on Tuesday, August 19th. UBS Group raised shares of PACCAR from a “sell” rating to a “neutral” rating and increased their price target for the company from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, PACCAR has an average rating of “Moderate Buy” and an average target price of $107.59.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $95.73 on Thursday. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The company’s 50 day moving average is $98.87 and its 200 day moving average is $95.62. 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 company has a market cap of $50.27 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 3.94 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the firm posted $2.13 EPS. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

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

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.