Mengis Capital Management Inc. Has $9.15 Million Position in PACCAR Inc. $PCAR

Key Points

• Mengis Capital Management Inc. reduced its holdings in PACCAR Inc. by 27.9%, owning 96,301 shares worth approximately $9.15 million, making PACCAR its 11th largest position.
• PACCAR recently announced a quarterly dividend of $0.33 per share, set to be paid on December 3rd, representing a 1.4% yield with a payout ratio of 22.60%.
• In its latest earnings report, PACCAR beat earnings expectations with $1.37 EPS but saw a 15.7% decline in revenue compared to the previous year, totaling $6.96 billion.

Mengis Capital Management Inc. lessened its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 27.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,301 shares of the company's stock after selling 37,247 shares during the quarter. PACCAR accounts for approximately 1.9% of Mengis Capital Management Inc.'s investment portfolio, making the stock its 11th biggest position. Mengis Capital Management Inc.'s holdings in PACCAR were worth $9,154,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of PACCAR by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock valued at $6,133,914,000 after purchasing an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after purchasing an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PACCAR by 9.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after purchasing an additional 987,805 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of PACCAR by 0.5% in the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock valued at $704,956,000 after purchasing an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of PACCAR by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock valued at $594,277,000 after purchasing an additional 97,197 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Down 0.5%

Shares of NASDAQ:PCAR opened at $95.22 on Friday. The firm has a market cap of $50.00 billion, a P/E ratio of 16.30, a P/E/G ratio of 3.90 and a beta of 0.94. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The business has a fifty day simple moving average of $98.80 and a 200 day simple moving average of $95.59.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 18.25% and a net margin of 9.88%.PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the company earned $2.13 EPS. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

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

Insider Buying and Selling at PACCAR

In related news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company's stock, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PCAR. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of PACCAR in a report on Wednesday. JPMorgan Chase & Co. increased their price target on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on PACCAR and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Finally, Truist Financial set a $97.00 price target on PACCAR and gave the company a "hold" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of "Moderate Buy" and an average price target of $107.59.

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.

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