Janney Montgomery Scott LLC Has $3.40 Million Stock Holdings in PACCAR Inc. $PCAR

Janney Montgomery Scott LLC lowered its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 18.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 29,438 shares of the company’s stock after selling 6,572 shares during the period. Janney Montgomery Scott LLC’s holdings in PACCAR were worth $3,400,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Ares Financial Consulting LLC acquired a new position in shares of PACCAR during the 4th quarter worth approximately $27,000. MCF Advisors LLC boosted its holdings in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares during the period. Steph & Co. bought a new position in PACCAR in the 1st quarter valued at about $29,000. Elyxium Wealth LLC acquired a new stake in PACCAR during the fourth quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of PACCAR during the third quarter worth approximately $32,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PCAR. Citigroup restated a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. BNP Paribas Exane started coverage on shares of PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target on the stock. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Evercore set a $139.00 target price on shares of PACCAR in a research report on Monday, May 11th. Finally, Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $122.45.

PACCAR Price Performance

PCAR stock traded down $1.97 during trading on Tuesday, reaching $123.94. 189,431 shares of the company were exchanged, compared to its average volume of 3,098,122. The company has a market capitalization of $65.23 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 1.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The company has a 50-day moving average of $116.34 and a two-hundred day moving average of $118.76. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. As a group, equities analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is currently 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.