Harrie Schippers Sells 28,676 Shares of PACCAR Inc (NASDAQ:PCAR) Stock

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was 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 approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

PACCAR Stock Up 0.5 %

Shares of PACCAR stock traded up $0.58 on Tuesday, reaching $106.54. The company’s stock had a trading volume of 1,979,855 shares, compared to its average volume of 2,317,760. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The firm’s fifty day simple moving average is $108.15 and its two-hundred day simple moving average is $104.96. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $55.86 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 2.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities analysts anticipate that PACCAR Inc will post 7.6 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is presently 15.17%.

Institutional Trading of PACCAR

Large investors have recently modified their holdings of the company. Everence Capital Management Inc. purchased a new position in shares of PACCAR during the 4th quarter worth $1,984,000. Sanctuary Advisors LLC increased its stake in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. grew its holdings in shares of PACCAR by 2.9% in the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC increased its position in PACCAR by 21.6% in the fourth 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 last quarter. Finally, Fisher Asset Management LLC raised its stake in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PCAR. JPMorgan Chase & Co. boosted their price target on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average 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.