PACCAR (NASDAQ:PCAR) CEO Sells $1,200,762.60 in Stock

PACCAR Inc. (NASDAQ:PCAR) CEO R Preston Feight sold 9,258 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the completion of the transaction, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at $33,536,010.20. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

R Preston Feight also recently made the following trade(s):

• On Friday, January 30th, R Preston Feight sold 9,258 shares of PACCAR stock. The shares were sold at an average price of $122.39, for a total transaction of $1,133,086.62.
• On Monday, February 2nd, R Preston Feight sold 9,258 shares of PACCAR stock. The stock was sold at an average price of $123.65, for a total transaction of $1,144,751.70.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $127.35 on Friday. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.70 and a quick ratio of 1.42. The company has a market cap of $66.88 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.07 and a beta of 1.03. The firm has a 50 day simple moving average of $116.12 and a 200 day simple moving average of $104.88.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was down 15.1% compared to the same quarter last year. Research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.0%. PACCAR’s dividend payout ratio (DPR) is currently 29.27%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PCAR shares. JPMorgan Chase & Co. upped their price objective on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial boosted their target price on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Citigroup boosted their price objective on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. One 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. grew its stake in PACCAR by 1.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,447 shares of the company’s stock worth $1,254,000 after purchasing an additional 165 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of PACCAR by 25.3% during the 4th quarter. Global Retirement Partners LLC now owns 5,706 shares of the company’s stock worth $625,000 after buying an additional 1,152 shares in the last quarter. Fortis Group Advisors LLC acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $1,650,000. Hi Line Capital Management LLC increased its stake in shares of PACCAR by 5.8% in the 4th quarter. Hi Line Capital Management LLC now owns 42,073 shares of the company’s stock valued at $4,664,000 after acquiring an additional 2,296 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in PACCAR during the fourth quarter worth $47,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.