Insider Selling: PACCAR (NASDAQ:PCAR) CEO Sells $6,783,243.25 in Stock

PACCAR Inc. (NASDAQ:PCAR) CEO R Preston Feight sold 50,975 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the sale, the chief executive officer directly owned 268,625 shares in the company, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PACCAR Price Performance

Shares of PCAR traded down $0.62 during trading hours on Monday, reaching $132.06. 5,879,104 shares of the company’s stock traded hands, compared to its average volume of 3,197,484. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The stock has a market cap of $69.51 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The firm’s 50 day simple moving average is $121.41 and its 200-day simple moving average is $120.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. PACCAR’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 earnings per share. Equities analysts expect that PACCAR Inc. will post 5.78 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s dividend payout ratio is presently 29.41%.

Hedge Funds Weigh In On PACCAR

Institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. grew its position in PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after acquiring an additional 9,524 shares during the last quarter. Merit Financial Group LLC lifted its position in PACCAR by 165.8% in the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after purchasing an additional 15,169 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after purchasing an additional 363,782 shares during the period. Geode Capital Management LLC boosted its stake in shares of PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after purchasing an additional 50,622 shares during the period. Finally, Swiss Life Asset Management Ltd grew its holdings in shares of PACCAR by 118.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock worth $69,943,000 after purchasing an additional 345,937 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PCAR. Morgan Stanley set a $119.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Truist Financial lifted their price target on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Finally, Citigroup raised their price objective on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $131.70.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.