PACCAR (NASDAQ:PCAR) VP Sells $387,908.30 in Stock

PACCAR Inc. (NASDAQ:PCAR) VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president directly owned 3,831 shares in the company, valued at approximately $512,970.90. This represents a 43.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

PACCAR Stock Down 1.9%

Shares of PCAR opened at $133.34 on Thursday. The company has a market cap of $70.18 billion, a PE ratio of 28.01, a P/E/G ratio of 1.08 and a beta of 0.97. The business has a fifty day moving average of $122.77 and a 200 day moving average of $121.17. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts expect that PACCAR Inc. will post 5.85 EPS for the current year.

PACCAR Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial boosted their price objective on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Sanford C. Bernstein reiterated an “outperform” rating and set a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. 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. Finally, Morgan Stanley set a $119.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $131.70.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently made changes to their positions in PCAR. Ares Financial Consulting LLC purchased a new stake in PACCAR in the fourth quarter worth about $27,000. MCF Advisors LLC increased its position in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the period. Steph & Co. bought a new stake in shares of PACCAR in the 1st quarter valued at about $29,000. Elyxium Wealth LLC bought a new position in shares of PACCAR during the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC bought a new stake in PACCAR during the 3rd quarter valued at $32,000. 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.