PACCAR Inc (PCAR) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 58.3% in the first quarter, HoldingsChannel reports. The firm owned 42,895 shares of the company’s stock after buying an additional 15,790 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PACCAR were worth $2,923,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd increased its position in PACCAR by 6.7% during the 4th quarter. Waverton Investment Management Ltd now owns 12,972 shares of the company’s stock worth $741,000 after purchasing an additional 819 shares in the last quarter. American Research & Management Co. acquired a new position in PACCAR in the 1st quarter valued at approximately $68,000. Canada Pension Plan Investment Board increased its position in PACCAR by 9.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 473,442 shares of the company’s stock valued at $27,051,000 after acquiring an additional 39,128 shares during the period. Meeder Asset Management Inc. increased its position in PACCAR by 62.0% in the 4th quarter. Meeder Asset Management Inc. now owns 78,703 shares of the company’s stock valued at $4,496,000 after acquiring an additional 30,116 shares during the period. Finally, Madison Investment Holdings Inc. increased its position in PACCAR by 8.9% in the 4th quarter. Madison Investment Holdings Inc. now owns 571,173 shares of the company’s stock valued at $32,637,000 after acquiring an additional 46,656 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.

NASDAQ:PCAR opened at $69.01 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.32 and a current ratio of 2.49. PACCAR Inc has a 52 week low of $53.43 and a 52 week high of $73.00. The firm has a market capitalization of $23.85 billion, a PE ratio of 11.06, a PEG ratio of 1.27 and a beta of 1.24.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.16. PACCAR had a net margin of 9.50% and a return on equity of 25.94%. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the firm posted $1.45 EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc will post 6.67 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, May 13th. PACCAR’s dividend payout ratio is currently 20.51%.

In other news, VP David J. Danforth sold 4,315 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $70.69, for a total value of $305,027.35. Following the sale, the vice president now directly owns 7,286 shares of the company’s stock, valued at approximately $515,047.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael T. Barkley sold 13,662 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $66.74, for a total transaction of $911,801.88. Following the completion of the sale, the insider now directly owns 35,962 shares in the company, valued at $2,400,103.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,651 shares of company stock worth $3,172,333. Insiders own 2.32% of the company’s stock.

Several equities analysts have issued reports on PCAR shares. Credit Suisse Group restated a “hold” rating and issued a $63.00 price target on shares of PACCAR in a research report on Tuesday, January 22nd. Zacks Investment Research cut shares of PACCAR from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 11th. BidaskClub cut shares of PACCAR from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. ValuEngine upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Finally, JPMorgan Chase & Co. cut shares of PACCAR from a “neutral” rating to an “underweight” rating and set a $54.00 price target for the company. in a research report on Thursday, January 10th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. PACCAR presently has an average rating of “Hold” and an average target price of $67.08.

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About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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