Applied Finance Capital Management LLC Sells 8,392 Shares of PACCAR Inc. $PCAR

Key Points

• Applied Finance Capital Management LLC reduced its stake in PACCAR Inc. by 49.5%, selling 8,392 shares, resulting in a total holding of 8,572 shares valued at approximately $815,000.
• PACCAR announced a quarterly dividend of $0.33 per share, with an annualized yield of 1.4%, to be paid on December 3rd.
• The company's stock price was down 0.5% at $94.69, with recent earnings reporting a year-over-year revenue decline of 15.7%.

Applied Finance Capital Management LLC cut its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 49.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,572 shares of the company's stock after selling 8,392 shares during the quarter. Applied Finance Capital Management LLC's holdings in PACCAR were worth $815,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PCAR. Brighton Jones LLC boosted its stake in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after purchasing an additional 290 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of PACCAR by 11.1% during the 1st quarter. GAMMA Investing LLC now owns 9,028 shares of the company's stock valued at $879,000 after purchasing an additional 901 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of PACCAR by 1.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 388,557 shares of the company's stock valued at $37,834,000 after purchasing an additional 4,519 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of PACCAR by 27.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,725 shares of the company's stock valued at $168,000 after purchasing an additional 369 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of PACCAR by 1.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 40,953 shares of the company's stock valued at $3,988,000 after purchasing an additional 735 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Down 0.5%

NASDAQ:PCAR opened at $94.69 on Friday. The firm has a market cap of $49.72 billion, a P/E ratio of 16.21, a P/E/G ratio of 3.89 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The firm has a 50-day simple moving average of $98.48 and a two-hundred day simple moving average of $95.44.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR's revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $2.13 EPS. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research note on Monday, July 28th. Zacks Research lowered shares of PACCAR from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $108.14.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm'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 in the company, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc. (NASDAQ:PCAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.