PACCAR Inc (NASDAQ:PCAR) CFO Sells $3,038,795.72 in Stock

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

PACCAR Trading Up 0.5 %

Shares of NASDAQ:PCAR opened at $106.54 on Wednesday. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company’s 50 day moving average is $108.15 and its two-hundred day moving average is $104.96. The company has a market cap of $55.86 billion, a PE ratio of 13.47, a P/E/G ratio of 2.79 and a beta of 0.92. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts predict that PACCAR Inc will post 7.6 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. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is presently 15.17%.

Hedge Funds Weigh In On PACCAR

Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted 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 buying an additional 193 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in PACCAR during the 4th quarter worth $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR in the fourth quarter valued at $37,000. Sunbelt Securities Inc. boosted its stake in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of PACCAR during the fourth quarter worth about $43,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PCAR. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price objective 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. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, December 6th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Seven equities 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.95.

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.