R Preston Feight Sells 9,258 Shares of PACCAR (NASDAQ:PCAR) Stock

PACCAR Inc. (NASDAQ:PCAR) CEO R Preston Feight sold 9,258 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the completion of the sale, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at approximately $33,536,010.20. This represents a 3.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

R Preston Feight also recently made the following trade(s):

• On Friday, January 30th, R Preston Feight sold 9,258 shares of PACCAR stock. The shares were sold at an average price of $122.39, for a total value of $1,133,086.62.
• On Monday, February 2nd, R Preston Feight sold 9,258 shares of PACCAR stock. The stock was sold at an average price of $123.65, for a total value of $1,144,751.70.

PACCAR Price Performance

PACCAR stock opened at $127.35 on Friday. The business’s 50-day simple moving average is $116.12 and its 200 day simple moving average is $104.83. 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 market cap of $66.88 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.07 and a beta of 1.03. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company’s revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 EPS. As a group, research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

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

Hedge Funds Weigh In On PACCAR

Several hedge funds have recently made changes to their positions in PCAR. Ares Financial Consulting LLC acquired a new position in PACCAR during the fourth quarter worth $27,000. Elyxium Wealth LLC bought a new position in shares of PACCAR in the 4th quarter valued at about $30,000. Private Wealth Management Group LLC boosted its position in PACCAR by 293.1% during the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new position in shares of PACCAR during the 4th quarter worth approximately $33,000. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCAR. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Truist Financial lifted their price objective on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Citigroup increased their target price on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, UBS Group set a $103.00 price target on shares of PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $116.50.

About PACCAR

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.