PACCAR (NASDAQ:PCAR) CEO Sells $6,783,243.25 in Stock

PACCAR Inc. (NASDAQ:PCAR) CEO R Preston Feight sold 50,975 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the sale, the chief executive officer directly owned 268,625 shares in the company, valued at $35,745,928.75. This trade represents a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PACCAR Stock Down 1.9%

Shares of NASDAQ PCAR opened at $133.34 on Thursday. The company has a market cap of $70.18 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.08 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24. The stock has a 50-day moving average price of $122.77 and a two-hundred day moving average price of $121.17.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating 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%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $1.37 EPS. As a group, analysts forecast that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.

Institutional Trading of PACCAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCAR. Nomura Asset Management Co. Ltd. grew its stake in PACCAR by 2.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after acquiring an additional 9,524 shares during the period. Merit Financial Group LLC raised its position in shares of PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after purchasing an additional 15,169 shares during the period. Vanguard Group Inc. lifted its holdings in shares of PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of PACCAR by 118.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock worth $69,943,000 after purchasing an additional 345,937 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after purchasing an additional 50,622 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PCAR shares. Wells Fargo & Company upped their price target on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. JPMorgan Chase & Co. upped their target price on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Morgan Stanley set a $119.00 target price on PACCAR in a research report on Wednesday, July 29th. Finally, Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $131.70.

About PACCAR

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.