Mark C. Pigott Sells 112,266 Shares of Paccar Inc. (PCAR) Stock
Paccar Inc. (NASDAQ:PCAR) insider Mark C. Pigott sold 112,266 shares of Paccar stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $55.47, for a total value of $6,227,395.02. Following the transaction, the insider now owns 2,998,711 shares in the company, valued at approximately $166,338,499.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Paccar Inc. (NASDAQ:PCAR) opened at 59.17 on Monday. The firm has a market capitalization of $20.74 billion, a PE ratio of 36.01 and a beta of 1.30. The stock’s 50 day moving average price is $57.04 and its 200 day moving average price is $56.45. Paccar Inc. has a 52-week low of $43.46 and a 52-week high of $60.86.
Paccar (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 25th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by $0.01. The firm earned $4.25 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Paccar had a return on equity of 20.96% and a net margin of 3.41%. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. Analysts expect that Paccar Inc. will post $3.90 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Wednesday, November 16th. Paccar’s dividend payout ratio (DPR) is currently 58.54%.
A number of brokerages recently commented on PCAR. Zacks Investment Research upgraded Paccar from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Barclays PLC lifted their price objective on Paccar from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 12th. Jefferies Group lifted their price objective on Paccar from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. Credit Agricole SA started coverage on Paccar in a research report on Friday, September 30th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, TheStreet downgraded Paccar from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $56.13.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark Inc. purchased a new position in shares of Paccar during the second quarter valued at $128,000. NN Investment Partners Holdings N.V. raised its position in shares of Paccar by 34.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,721 shares of the company’s stock valued at $141,000 after buying an additional 700 shares during the period. Regentatlantic Capital LLC purchased a new position in shares of Paccar during the third quarter valued at $202,000. Heartland Advisors Inc. purchased a new position in shares of Paccar during the third quarter valued at $215,000. Finally, Raymond James Trust N.A. purchased a new position in shares of Paccar during the third quarter valued at $216,000. 62.27% of the stock is currently owned by institutional investors and hedge funds.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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