PACCAR Inc (NASDAQ:PCAR) VP Sells $958,918.53 in Stock

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a document filed with the SEC, which is available through this link.

PACCAR Trading Up 0.3 %

Shares of PCAR traded up $0.36 during mid-day trading on Monday, reaching $105.15. The company had a trading volume of 2,779,592 shares, compared to its average volume of 2,459,681. The stock has a market cap of $55.10 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The firm has a fifty day simple moving average of $116.42 and a 200-day simple moving average of $102.78. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. PACCAR’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $2.25 EPS. On average, sell-side analysts anticipate that PACCAR Inc will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is currently 12.45%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCAR. Morgan Stanley began coverage on shares of PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective for the company. TD Cowen lifted their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Evercore ISI lifted their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Royal Bank of Canada started coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Finally, UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.62.

Hedge Funds Weigh In On PACCAR

A number of institutional investors have recently added to or reduced their stakes in the company. Gallacher Capital Management LLC bought a new stake in shares of PACCAR in the 1st quarter worth about $412,000. VitalStone Financial LLC bought a new stake in shares of PACCAR in the 1st quarter worth about $351,000. Advisory Services Network LLC increased its position in shares of PACCAR by 15.9% in the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after purchasing an additional 7,678 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of PACCAR by 6.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,877 shares of the company’s stock worth $233,000 after purchasing an additional 119 shares during the last quarter. Finally, SPC Financial Inc. increased its position in shares of PACCAR by 1.3% in the 1st quarter. SPC Financial Inc. now owns 14,051 shares of the company’s stock worth $1,741,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

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.