Hennessy Advisors Inc. Sells 500 Shares of PACCAR Inc (NASDAQ:PCAR)

Hennessy Advisors Inc. lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,600 shares of the company’s stock after selling 500 shares during the quarter. Hennessy Advisors Inc.’s holdings in PACCAR were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. PSI Advisors LLC acquired a new stake in PACCAR during the 1st quarter worth about $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR during the first quarter worth $27,000. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR during the 1st quarter worth approximately $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR during the 1st quarter valued at approximately $29,000. Finally, Rise Advisors LLC purchased a new stake in shares of PACCAR in the 1st quarter valued at approximately $31,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $96.42 on Friday. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The firm has a market cap of $50.54 billion, a PE ratio of 9.88, a P/E/G ratio of 1.47 and a beta of 0.92. The business has a fifty day simple moving average of $100.52 and a 200-day simple moving average of $108.07.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 earnings per share. As a group, equities analysts predict that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PCAR. JPMorgan Chase & Co. lowered their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Evercore ISI reduced their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday. Truist Financial decreased their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Raymond James began coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $112.73.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.02% of the stock is owned by company insiders.

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.