Michael K. Walton Sells 9,123 Shares of PACCAR Inc (NASDAQ:PCAR) Stock

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 9,123 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PACCAR Stock Performance

NASDAQ:PCAR opened at $106.60 on Wednesday. The company has a market capitalization of $55.87 billion, a PE ratio of 11.06, a P/E/G ratio of 1.63 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The company has a 50 day simple moving average of $116.18 and a two-hundred day simple moving average of $103.12.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. PACCAR’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.25 earnings per share. Research analysts anticipate that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be given a $0.30 dividend. The ex-dividend date is Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR’s dividend payout ratio (DPR) is 11.20%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA lifted its stake in PACCAR by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after buying an additional 23,865 shares during the period. Northern Trust Corp lifted its position in shares of PACCAR by 6.0% during the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after acquiring an additional 316,001 shares during the period. Fisher Asset Management LLC boosted its stake in PACCAR by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after acquiring an additional 89,984 shares in the last quarter. Norges Bank acquired a new stake in PACCAR in the fourth quarter worth $448,288,000. Finally, Invesco Ltd. grew its holdings in PACCAR by 9.9% in the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock worth $309,921,000 after purchasing an additional 328,347 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PCAR shares. Evercore ISI upped their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. The Goldman Sachs Group increased their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. reduced their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, TD Cowen upped their price objective on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.62.

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.