PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton Sells 6,000 Shares

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

PACCAR Stock Performance

Shares of PCAR opened at $106.46 on Friday. The stock has a 50-day simple moving average of $107.67 and a 200-day simple moving average of $105.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. The stock has a market capitalization of $55.82 billion, a PE ratio of 13.46, a PEG ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (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%. On average, analysts predict that PACCAR Inc will post 7.57 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. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Institutional Investors Weigh In On PACCAR

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. raised its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR during the 4th quarter worth about $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the 4th quarter worth about $37,000. Sunbelt Securities Inc. raised its position in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after acquiring an additional 350 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of PACCAR during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PCAR shares. Truist Financial raised their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

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.