PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers Sells 28,676 Shares of Stock

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $106.54 on Wednesday. The firm has a 50-day simple moving average of $108.15 and a 200-day simple moving average of $104.96. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $55.86 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results 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 return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts predict that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 15.17%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of analyst reports. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Citigroup dropped their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Truist Financial boosted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.95.

Institutional Inflows and Outflows

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

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.