Harrie Schippers Sells 20,000 Shares of PACCAR Inc (NASDAQ:PCAR) Stock

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

PACCAR Trading Up 1.1 %

Shares of NASDAQ:PCAR traded up $1.17 during trading on Monday, reaching $107.07. 1,579,921 shares of the stock were exchanged, compared to its average volume of 2,638,872. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.55 and a current ratio of 1.91. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The firm has a market cap of $56.13 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.65 and a beta of 0.91. The firm’s 50-day moving average price is $99.39 and its 200 day moving average price is $103.09.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the business earned $2.34 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that PACCAR Inc will post 8 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Hedge Funds Weigh In On PACCAR

Several hedge funds and other institutional investors have recently bought and sold shares of PCAR. Quarry LP acquired a new position in shares of PACCAR in the 2nd quarter valued at approximately $26,000. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR in the 1st quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its position in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR in the 2nd quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC raised its position in shares of PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCAR has been the subject of several research reports. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. cut their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Citigroup lifted their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI dropped their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus target price of $114.18.

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.