Insider Selling: PACCAR Inc (NASDAQ:PCAR) CFO Sells $3,038,795.72 in Stock

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

PACCAR Price Performance

NASDAQ PCAR opened at $106.46 on Friday. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. The stock has a market capitalization of $55.82 billion, a PE ratio of 13.46, a P/E/G ratio of 2.77 and a beta of 0.92. The stock has a 50-day simple moving average of $107.67 and a 200 day simple moving average of $105.07.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is currently 16.69%.

Hedge Funds Weigh In On PACCAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCAR. Norges Bank bought a new position in PACCAR during the fourth quarter valued at about $526,922,000. Wellington Management Group LLP increased its stake in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares during the period. Kovitz Investment Group Partners LLC increased its stake in PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock valued at $557,453,000 after acquiring an additional 4,219,964 shares during the period. Massachusetts Financial Services Co. MA increased its stake in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after acquiring an additional 3,296,146 shares during the period. Finally, Madison Investment Advisors LLC bought a new position in PACCAR during the fourth quarter valued at about $254,651,000. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCAR. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Citigroup reduced 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. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $116.00 to $121.50 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 target for the company. in a research report on Friday, December 6th. Finally, Truist Financial boosted their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

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.