PACCAR (NASDAQ:PCAR) VP William Lance Walters Sells 1,000 Shares of Stock

PACCAR Inc. (NASDAQ:PCAR) VP William Lance Walters sold 1,000 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

PACCAR Trading Down 0.5%

PCAR traded down $0.62 during midday trading on Monday, hitting $132.06. The company’s stock had a trading volume of 5,879,104 shares, compared to its average volume of 3,197,484. The firm has a market cap of $69.51 billion, a P/E ratio of 27.74, a PEG ratio of 1.06 and a beta of 0.97. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $121.41 and a two-hundred day moving average price of $120.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. PACCAR’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 earnings per share. On average, research analysts anticipate that PACCAR Inc. will post 5.78 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is 29.41%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new position in PACCAR in the 2nd quarter worth $7,731,000. Tema ETFs LLC lifted its stake in shares of PACCAR by 9.4% in the second quarter. Tema ETFs LLC now owns 8,429 shares of the company’s stock worth $1,012,000 after acquiring an additional 725 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in PACCAR during the 2nd quarter valued at approximately $37,000. Valeo Financial Advisors LLC increased its holdings in PACCAR by 5.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,406 shares of the company’s stock worth $529,000 after purchasing an additional 212 shares during the last quarter. Finally, Czech National Bank raised its position in shares of PACCAR by 4.7% in the 2nd quarter. Czech National Bank now owns 149,801 shares of the company’s stock valued at $17,994,000 after purchasing an additional 6,711 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PCAR. JPMorgan Chase & Co. boosted their price target on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wells Fargo & Company lifted their price objective on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday. Citigroup boosted their target price on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley set a $119.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $131.70.

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.