PACCAR Inc (NASDAQ:PCAR) CFO Sells $2,138,600.00 in Stock

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

PACCAR Price Performance

PCAR opened at $106.67 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $99.83 and a 200 day moving average of $102.92. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The stock has a market cap of $55.92 billion, a P/E ratio of 11.92, a PEG ratio of 1.65 and a beta of 0.91.

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

PACCAR Dividend Announcement

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

Institutional Investors Weigh In On PACCAR

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

Analyst Ratings Changes

A number of equities analysts recently commented on PCAR shares. Truist Financial increased their price target on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley lowered their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Evercore ISI decreased their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $114.18.

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.