Insider Selling: PACCAR Inc (NASDAQ:PCAR) VP Sells 6,000 Shares of Stock

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction on 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 $100,929.63. The trade was a 86.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $104.46 on Friday. The firm has a market cap of $54.82 billion, a PE ratio of 13.21, a PEG ratio of 2.77 and a beta of 0.92. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a fifty day moving average price of $107.50 and a 200 day moving average price of $105.25.

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 return on equity of 23.53% and a net margin of 12.36%. Research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders 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 is currently 16.69%.

Hedge Funds Weigh In On PACCAR

Large investors have recently modified their holdings of the business. Meeder Asset Management Inc. boosted its stake in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after buying an additional 193 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the 4th quarter worth about $37,000. Sunbelt Securities Inc. boosted its stake in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after buying an additional 350 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of PACCAR during the 4th quarter worth about $37,000. Finally, Atala Financial Inc acquired a new position in shares of PACCAR during the 4th quarter worth about $43,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PCAR shares. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Evercore ISI decreased their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Seven equities research 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, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price 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.