PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton Sells 9,123 Shares

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 9,123 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The sale was disclosed in a filing with the SEC, which is accessible through this link.

PACCAR Stock Up 0.3 %

Shares of NASDAQ PCAR opened at $105.15 on Tuesday. The firm has a market capitalization of $55.10 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The firm’s 50-day moving average is $116.28 and its 200-day moving average is $102.94.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 EPS. Equities analysts expect that PACCAR Inc will post 8.26 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective for the company. The Goldman Sachs Group increased their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $112.62.

Institutional Trading of PACCAR

A number of hedge funds have recently modified their holdings of the company. Empowered Funds LLC raised its position in shares of PACCAR by 160.0% in the 1st quarter. Empowered Funds LLC now owns 168,267 shares of the company’s stock valued at $20,847,000 after acquiring an additional 103,559 shares during the period. LSV Asset Management raised its holdings in PACCAR by 7.9% during the 1st quarter. LSV Asset Management now owns 614,550 shares of the company’s stock worth $76,137,000 after buying an additional 45,100 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in PACCAR by 18.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,353 shares of the company’s stock worth $2,398,000 after buying an additional 2,989 shares during the period. Empirical Finance LLC raised its holdings in PACCAR by 3.5% during the 1st quarter. Empirical Finance LLC now owns 18,755 shares of the company’s stock worth $2,324,000 after buying an additional 626 shares during the period. Finally, Gallacher Capital Management LLC acquired a new stake in PACCAR during the 1st quarter worth approximately $412,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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.