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 firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

PACCAR Stock Performance

PCAR stock traded down $0.75 during midday trading on Thursday, hitting $106.46. 1,804,431 shares of the stock traded hands, compared to its average volume of 2,291,283. The firm has a market cap of $55.82 billion, a P/E ratio of 13.46, a PEG ratio of 2.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. The stock’s fifty day simple moving average is $107.80 and its 200-day simple moving average is $105.06. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results 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 net margin of 12.36% and a return on equity of 23.53%. On average, analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

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

Institutional Trading of PACCAR

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Geode Capital Management LLC grew its position in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock valued at $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the period. FMR LLC grew its position in shares of PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after purchasing an additional 167,165 shares during the period. Finally, Northern Trust Corp grew its position in shares of PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock valued at $749,189,000 after purchasing an additional 565,967 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley decreased their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Finally, Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

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.