PACCAR Inc (NASDAQ:PCAR) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,400 shares of the company’s stock after selling 1,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in PACCAR were worth $2,746,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new position in PACCAR during the 2nd quarter worth approximately $26,000. Grove Bank & Trust increased its stake in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the last quarter. Sander Capital Advisors Inc. acquired a new stake in shares of PACCAR during the third quarter worth $50,000. Ashton Thomas Securities LLC acquired a new stake in shares of PACCAR during the third quarter worth $52,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares of the company’s stock, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. The trade was a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 over the last ninety days. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent research reports. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $120.13.

PACCAR Price Performance

NASDAQ PCAR opened at $110.33 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The business’s fifty day moving average is $111.18 and its two-hundred day moving average is $103.97. The stock has a market capitalization of $57.85 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.34 earnings per share. On average, research analysts forecast that PACCAR Inc will post 7.92 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 14.75%.

PACCAR 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.