Hennessy Advisors Inc. Decreases Stock Holdings in PACCAR Inc. $PCAR

Hennessy Advisors Inc. reduced its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 2.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 24,000 shares of the company’s stock after selling 500 shares during the quarter. Hennessy Advisors Inc.’s holdings in PACCAR were worth $2,281,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its holdings 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 worth $27,000 after purchasing an additional 240 shares during the period. Alpine Bank Wealth Management purchased a new stake in PACCAR in the 1st quarter worth approximately $29,000. Bayforest Capital Ltd grew its position in shares of PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after buying an additional 274 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of PACCAR in the 1st quarter worth approximately $40,000. Finally, JFS Wealth Advisors LLC boosted its holdings in PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock valued at $43,000 after acquiring an additional 174 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $98.09 on Friday. The firm’s 50-day moving average price is $99.03 and its 200-day moving average price is $95.62. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a market cap of $51.51 billion, a PE ratio of 16.80, a PEG ratio of 3.98 and a beta of 0.94. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

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

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is 22.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. UBS Group raised PACCAR from a “sell” rating to a “neutral” rating and increased their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of PACCAR in a research report on Saturday, September 27th. JPMorgan Chase & Co. upped their price target on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI set a $114.00 price objective on PACCAR and gave the company an “outperform” rating in a research report on Tuesday, August 19th. 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, PACCAR presently has a consensus rating of “Moderate Buy” and an average target price of $107.68.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

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.