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 company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

PACCAR Stock Down 0.7 %

NASDAQ PCAR opened at $106.46 on Friday. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a market cap of $55.82 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.79 and a beta of 0.92. The business has a fifty day moving average price of $107.67 and a 200 day moving average price 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.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PCAR shares. JPMorgan Chase & Co. upped their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, Citigroup reduced their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.77.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently modified their holdings of the stock. Everence Capital Management Inc. acquired a new stake in shares of PACCAR in the 4th quarter worth $1,984,000. Sanctuary Advisors LLC grew its holdings in shares of PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares during the period. Mengis Capital Management Inc. grew its holdings in shares of PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares during the period. Insight Wealth Strategies LLC grew its holdings in shares of PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after purchasing an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares during the period. 64.90% of the stock is 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.