Michael K. Walton Sells 6,000 Shares of PACCAR Inc (NASDAQ:PCAR) Stock

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

PACCAR Price Performance

PCAR stock opened at $104.46 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a market cap of $54.77 billion, a P/E ratio of 13.21, a PEG ratio of 2.79 and a beta of 0.92. The firm has a 50-day moving average of $107.50 and a 200 day moving average of $105.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last announced 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 net margin of 12.36% and a return on equity of 23.53%. On average, sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Hedge Funds Weigh In On PACCAR

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp increased its stake in shares of PACCAR by 6.1% during the fourth quarter. Mackenzie Financial Corp now owns 81,219 shares of the company’s stock valued at $8,448,000 after purchasing an additional 4,703 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $10,336,000. Sunbelt Securities Inc. grew its holdings in shares of PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after buying an additional 350 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $353,000. Finally, JT Stratford LLC grew its holdings in shares of PACCAR by 4.5% during the fourth quarter. JT Stratford LLC now owns 16,688 shares of the company’s stock valued at $1,736,000 after buying an additional 715 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PCAR shares. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday. Jefferies Financial Group downgraded shares of 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. Citigroup lowered their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Company Profile

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.