PACCAR Inc (NASDAQ:PCAR) CEO R Preston Feight Sells 27,191 Shares of Stock

PACCAR Inc (NASDAQ:PCAR) CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PACCAR Stock Down 0.9 %

Shares of NASDAQ:PCAR opened at $103.35 on Friday. The company has a market capitalization of $54.18 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.64 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.91 and a quick ratio of 1.55. The business’s 50-day moving average is $100.33 and its 200-day moving average is $102.84. PACCAR Inc has a 1 year low of $83.18 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. Equities research analysts predict that PACCAR Inc will post 8 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after buying an additional 27,963 shares in the last quarter. BDF Gestion bought a new position in shares of PACCAR in the second quarter valued at $2,862,000. Advisory Services Network LLC grew its holdings in shares of PACCAR by 15.9% during the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after buying an additional 7,678 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of PACCAR by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after acquiring an additional 105,109 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of PACCAR in the 1st quarter worth about $1,359,000. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup raised their price objective on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI cut their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, Truist Financial lifted their target price on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $114.18.

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.