PACCAR Inc (NASDAQ:PCAR) VP David J. Danforth sold 651 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $59.44, for a total value of $38,695.44. Following the completion of the sale, the vice president now directly owns 5,453 shares of the company’s stock, valued at $324,126.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NASDAQ PCAR traded down $1.50 on Friday, hitting $58.36. 1,637,782 shares of the stock traded hands, compared to its average volume of 2,797,397. PACCAR Inc has a 12 month low of $53.95 and a 12 month high of $79.69. The firm has a market cap of $21.00 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.90 and a beta of 1.39. The company has a current ratio of 2.63, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the prior year, the company earned $1.14 earnings per share. PACCAR’s revenue was up 14.5% compared to the same quarter last year. Analysts forecast that PACCAR Inc will post 6.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, November 9th. PACCAR’s dividend payout ratio (DPR) is 26.29%.
A number of hedge funds and other institutional investors have recently made changes to their positions in PCAR. Bank of New York Mellon Corp grew its holdings in PACCAR by 33.3% during the third quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock valued at $410,954,000 after purchasing an additional 1,505,929 shares during the period. FMR LLC grew its holdings in PACCAR by 26.1% during the third quarter. FMR LLC now owns 6,043,716 shares of the company’s stock valued at $412,121,000 after purchasing an additional 1,249,446 shares during the period. Federated Investors Inc. PA grew its holdings in PACCAR by 9,286.5% during the second quarter. Federated Investors Inc. PA now owns 902,329 shares of the company’s stock valued at $55,908,000 after purchasing an additional 892,716 shares during the period. Schroder Investment Management Group grew its holdings in PACCAR by 934.2% during the second quarter. Schroder Investment Management Group now owns 869,356 shares of the company’s stock valued at $53,935,000 after purchasing an additional 785,295 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in PACCAR by 75.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock valued at $121,393,000 after purchasing an additional 763,338 shares during the period. 61.33% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research note on Friday, October 5th. Wolfe Research downgraded PACCAR from a “peer perform” rating to an “underperform” rating in a research note on Friday, October 5th. Zacks Investment Research downgraded PACCAR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. ValuEngine downgraded PACCAR from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating in a research report on Monday, August 6th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $68.73.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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