PACCAR (NASDAQ:PCAR) EVP Sells $1,223,798.16 in Stock

PACCAR Inc. (NASDAQ:PCAR) EVP Kevin Baney sold 9,672 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total value of $1,223,798.16. Following the transaction, the executive vice president directly owned 12,592 shares in the company, valued at approximately $1,593,265.76. This represents a 43.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

PACCAR Stock Down 1.1%

Shares of PACCAR stock opened at $127.42 on Friday. The stock has a market capitalization of $66.92 billion, a P/E ratio of 28.25, a PEG ratio of 1.08 and a beta of 1.03. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average price of $115.68 and a two-hundred day moving average price of $104.59. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. PACCAR’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 earnings per share. Equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio is 29.27%.

Institutional Investors Weigh In On PACCAR

Institutional investors have recently bought and sold shares of the business. JT Stratford LLC acquired a new position in PACCAR during the 2nd quarter valued at about $1,301,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of PACCAR by 77.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after buying an additional 103,664 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of PACCAR by 29.1% during the third quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock worth $3,893,000 after buying an additional 8,932 shares during the last quarter. National Pension Service lifted its holdings in PACCAR by 5.5% in the third quarter. National Pension Service now owns 939,146 shares of the company’s stock valued at $92,337,000 after buying an additional 48,711 shares during the period. Finally, Endeavor Private Wealth Inc. bought a new position in PACCAR in the third quarter valued at approximately $3,817,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PCAR. UBS Group set a $103.00 price objective on PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Sanford C. Bernstein set a $138.00 price objective on PACCAR and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Truist Financial raised their price objective on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus target price of $116.50.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.