PACCAR Inc (NASDAQ:PCAR) EVP Sells $11,565,536.76 in Stock

PACCAR Inc (NASDAQ:PCAR) EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $110.88 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.03. The firm’s 50 day simple moving average is $110.36 and its 200-day simple moving average is $104.56. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market capitalization of $58.13 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 2.83 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Analysts expect that PACCAR Inc will post 7.71 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 15.17%.

Institutional Trading of PACCAR

Institutional investors and hedge funds have recently made changes to their positions in the business. Everence Capital Management Inc. purchased a new stake in PACCAR in the 4th quarter worth $1,984,000. Sanctuary Advisors LLC increased its stake in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. raised its position in shares of PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares during the last quarter. Insight Wealth Strategies LLC lifted its stake in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after buying an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Citigroup lowered their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.32.

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.