PACCAR Inc (NASDAQ:PCAR) VP Sells $636,780.00 in Stock

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PACCAR Stock Down 0.7 %

Shares of NASDAQ PCAR traded down $0.75 during midday trading on Thursday, reaching $106.46. 1,804,431 shares of the company’s stock traded hands, compared to its average volume of 2,291,283. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock’s 50 day simple moving average is $107.80 and its 200-day simple moving average is $105.06. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a market cap of $55.82 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 2.77 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently modified their holdings of PCAR. Norges Bank bought a new position in shares of PACCAR during the fourth quarter valued at approximately $526,922,000. Wellington Management Group LLP lifted its position in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares during the last quarter. Kovitz Investment Group Partners LLC lifted 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 acquiring an additional 4,219,964 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 acquiring an additional 3,296,146 shares during the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in PACCAR during the fourth quarter valued at approximately $254,651,000. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PCAR. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Truist Financial upped their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Evercore ISI dropped their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

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.