Insider Selling: PACCAR Inc (NASDAQ:PCAR) CFO Sells 4,000 Shares of Stock
PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 4,000 shares of PACCAR stock in a transaction on Friday, July 24th. The stock was sold at an average price of $86.04, for a total transaction of $344,160.00. Following the completion of the sale, the chief financial officer now owns 41,515 shares of the company’s stock, valued at approximately $3,571,950.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
PCAR stock opened at $84.61 on Friday. The company has a market capitalization of $29.20 billion, a P/E ratio of 17.85, a PEG ratio of 2.37 and a beta of 1.12. The company has a 50-day simple moving average of $77.17 and a 200 day simple moving average of $71.45. PACCAR Inc has a fifty-two week low of $49.11 and a fifty-two week high of $87.24. The company has a quick ratio of 1.09, a current ratio of 1.32 and a debt-to-equity ratio of 0.75.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.31 by $0.12. PACCAR had a net margin of 7.95% and a return on equity of 16.85%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the previous year, the business earned $1.78 earnings per share. PACCAR’s revenue for the quarter was down 56.9% compared to the same quarter last year. Equities analysts anticipate that PACCAR Inc will post 3.19 EPS for the current year.
A number of brokerages recently issued reports on PCAR. ValuEngine upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Thursday, June 25th. Citigroup lifted their price target on shares of PACCAR from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Deutsche Bank boosted their target price on shares of PACCAR from $95.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Piper Sandler lowered shares of PACCAR from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $66.00 to $73.00 in a research note on Tuesday, May 12th. Finally, Credit Suisse Group boosted their target price on shares of PACCAR from $72.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.21.
A number of institutional investors have recently modified their holdings of PCAR. Norges Bank bought a new stake in PACCAR in the fourth quarter worth about $283,130,000. Capital World Investors raised its position in PACCAR by 43.5% in the first quarter. Capital World Investors now owns 9,104,922 shares of the company’s stock worth $556,584,000 after acquiring an additional 2,759,826 shares in the last quarter. First Trust Advisors LP raised its holdings in PACCAR by 346.4% during the 2nd quarter. First Trust Advisors LP now owns 1,810,093 shares of the company’s stock worth $135,485,000 after buying an additional 1,404,646 shares during the period. Capital International Investors acquired a new stake in PACCAR during the 1st quarter worth about $57,080,000. Finally, Alyeska Investment Group L.P. acquired a new stake in PACCAR during the 1st quarter worth about $38,946,000. Hedge funds and other institutional investors own 61.39% of the company’s stock.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
Read More: Total Return
Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.