PACCAR (NASDAQ:PCAR) EVP Sells $10,115,401.92 in Stock

PACCAR Inc. (NASDAQ:PCAR) EVP C Michael Dozier sold 79,076 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the transaction, the executive vice president directly owned 34,656 shares in the company, valued at $4,433,195.52. This trade represents a 69.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

PACCAR Price Performance

PCAR stock opened at $127.42 on Friday. The company has a market cap of $66.92 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 1.08 and a beta of 1.03. The company has a current ratio of 1.70, a quick ratio of 1.42 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $115.68 and a two-hundred day moving average price of $104.59. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the company posted $1.66 EPS. The company’s revenue was down 15.1% compared to the same quarter last year. As a group, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s payout ratio is 29.27%.

Institutional Investors Weigh In On PACCAR

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of PACCAR during the second quarter worth approximately $472,520,000. UBS Group AG boosted its stake in PACCAR by 74.4% during the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after acquiring an additional 1,940,260 shares during the last quarter. Pacer Advisors Inc. grew its holdings in PACCAR by 2,389.2% during the 3rd quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock worth $197,705,000 after acquiring an additional 1,930,056 shares in the last quarter. American Century Companies Inc. increased its position in shares of PACCAR by 235.9% in the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after purchasing an additional 1,784,236 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of PACCAR by 25.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent research reports. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Citigroup boosted their price objective on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. upped their target price on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Truist Financial raised their target price on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Finally, Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.50.

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.