PACCAR Inc (NASDAQ:PCAR) CEO Sells $3,594,193.00 in Stock

PACCAR Inc (NASDAQ:PCAR) CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

PACCAR Stock Up 1.7 %

Shares of NASDAQ PCAR traded up $1.87 during midday trading on Thursday, hitting $108.92. 1,887,046 shares of the stock traded hands, compared to its average volume of 2,456,156. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The business has a 50 day moving average price of $116.18 and a two-hundred day moving average price of $103.12. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The company has a market cap of $57.09 billion, a PE ratio of 11.10, a P/E/G ratio of 1.63 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the previous year, the business earned $2.25 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that PACCAR Inc will post 8.26 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a $0.30 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.10%. PACCAR’s dividend payout ratio (DPR) is currently 11.20%.

Institutional Trading of PACCAR

A number of institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in shares of PACCAR by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after purchasing an additional 23,865 shares in the last quarter. Northern Trust Corp increased its stake in shares of PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after acquiring an additional 316,001 shares in the last quarter. Fisher Asset Management LLC lifted its position in PACCAR by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock valued at $480,104,000 after acquiring an additional 89,984 shares during the period. Norges Bank bought a new stake in PACCAR during the fourth quarter worth about $448,288,000. Finally, Invesco Ltd. grew its holdings in PACCAR by 9.9% in the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock worth $309,921,000 after purchasing an additional 328,347 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank of Canada started coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target on the stock. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Truist Financial restated a “hold” rating and set a $121.00 target price (up from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Company 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.