PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers Sells 20,000 Shares of Stock

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $107.07 on Tuesday. The stock has a market cap of $56.13 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.65 and a beta of 0.91. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The company’s 50-day moving average price is $99.61 and its 200 day moving average price is $103.00. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.52.

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

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. PACCAR’s payout ratio is 13.41%.

Institutional Investors Weigh In On PACCAR

Hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of PACCAR by 4.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after purchasing an additional 27,963 shares during the last quarter. BDF Gestion acquired a new stake in shares of PACCAR during the 2nd quarter worth about $2,862,000. Advisory Services Network LLC boosted its stake in shares of PACCAR by 15.9% during 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. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of PACCAR by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after purchasing an additional 105,109 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of PACCAR during the 1st quarter worth about $1,359,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on PCAR. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI cut their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Finally, Truist Financial upped their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research 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, PACCAR presently has an average rating of “Hold” and an average 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.