PACCAR Inc (NASDAQ:PCAR) CFO Sells $3,038,795.72 in Stock

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PACCAR Price Performance

PCAR traded up $0.58 during trading on Tuesday, reaching $106.54. 1,979,855 shares of the company were exchanged, compared to its average volume of 2,317,760. The company’s 50-day moving average is $108.15 and its two-hundred day moving average is $104.96. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a market cap of $55.86 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 2.79 and a beta of 0.92. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts forecast that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is currently 15.17%.

Institutional Trading of PACCAR

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in PACCAR during the fourth quarter worth about $526,922,000. Wellington Management Group LLP lifted its stake in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock valued at $557,453,000 after buying an additional 4,219,964 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the last quarter. Finally, Madison Investment Advisors LLC purchased a new position in shares of PACCAR in the fourth quarter worth about $254,651,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Truist Financial lifted their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $121.95.

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.