PACCAR (NASDAQ:PCAR) CEO Sells $1,144,751.70 in Stock

PACCAR Inc. (NASDAQ:PCAR) CEO R Preston Feight sold 9,258 shares of PACCAR stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $123.65, for a total value of $1,144,751.70. Following the completion of the transaction, the chief executive officer directly owned 244,433 shares of the company’s stock, valued at $30,224,140.45. This represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

R Preston Feight also recently made the following trade(s):

• On Wednesday, February 4th, R Preston Feight sold 9,258 shares of PACCAR stock. The stock was sold at an average price of $129.70, for a total value of $1,200,762.60.
• On Friday, January 30th, R Preston Feight sold 9,258 shares of PACCAR stock. The stock was sold at an average price of $122.39, for a total value of $1,133,086.62.

PACCAR Trading Down 1.1%

PCAR opened at $127.42 on Friday. The stock has a market capitalization of $66.92 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 1.08 and a beta of 1.03. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 0.56. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $131.88. The company has a 50-day simple moving average of $115.68 and a 200 day simple moving average of $104.59.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the firm earned $1.66 EPS. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. Analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, February 11th. PACCAR’s payout ratio is currently 29.27%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PCAR shares. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. UBS Group set a $103.00 target price on PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Truist Financial boosted their target price on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PACCAR has an average rating of “Hold” and an average target price of $116.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ares Financial Consulting LLC acquired a new position in PACCAR in the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new stake in shares of PACCAR in the fourth quarter worth $30,000. Private Wealth Management Group LLC increased its holdings in PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the period. Hazlett Burt & Watson Inc. raised its position in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new position in PACCAR during the 4th quarter worth $33,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.