PACCAR Inc (NASDAQ:PCAR) VP Sells $958,918.53 in Stock

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 9,123 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PACCAR Price Performance

NASDAQ PCAR opened at $107.05 on Thursday. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50. The firm has a market capitalization of $56.11 billion, a PE ratio of 11.10, a P/E/G ratio of 1.63 and a beta of 0.96. The company’s 50 day simple moving average is $116.18 and its 200 day simple moving average is $103.12. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.25 billion. During the same period last year, the company posted $2.25 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that PACCAR Inc will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Tuesday, May 14th. PACCAR’s payout ratio is presently 11.20%.

Analyst Ratings Changes

Several research firms have recently commented on PCAR. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $104.00 to $136.00 in a report on Friday, March 15th. TD Cowen increased their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. reduced their price target 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. The Goldman Sachs Group upped their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada assumed coverage on shares of PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.62.

Institutional Investors Weigh In On PACCAR

Institutional investors and hedge funds have recently bought and sold shares of the business. PSI Advisors LLC bought a new stake in shares of PACCAR in the 1st quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in PACCAR in the third quarter worth approximately $26,000. AdvisorNet Financial Inc increased its holdings in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of PACCAR during the 1st quarter valued at $27,000. Finally, Riverview Trust Co bought a new stake in shares of PACCAR during the 1st quarter worth $29,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.