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

Hennessy Advisors Inc. trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of PACCAR during the 2nd quarter worth approximately $26,000. Grove Bank & Trust lifted its position in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares during the last quarter. Sander Capital Advisors Inc. acquired a new position in PACCAR in the third quarter valued at $50,000. Ashton Thomas Securities LLC acquired a new position in PACCAR in the third quarter valued at $52,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after purchasing an additional 391 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,315 shares of company stock valued at $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PCAR. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Morgan Stanley cut their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a research note on Tuesday. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $120.13.

PACCAR Price Performance

NASDAQ:PCAR opened at $110.33 on Friday. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The firm has a market cap of $57.85 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93. The company’s 50-day moving average is $111.18 and its two-hundred day moving average is $103.97. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

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

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase 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%.

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.