Ronald E. Armstrong Sells 15,784 Shares of PACCAR Inc (PCAR) Stock
PACCAR Inc (NASDAQ:PCAR) CEO Ronald E. Armstrong sold 15,784 shares of PACCAR stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $66.00, for a total value of $1,041,744.00. Following the completion of the transaction, the chief executive officer now owns 222,499 shares in the company, valued at $14,684,934. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of PCAR stock opened at $65.95 on Friday. PACCAR Inc has a 1-year low of $53.43 and a 1-year high of $72.89. The company has a current ratio of 1.19, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72. The firm has a market cap of $23.12 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 0.95 and a beta of 1.32.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 29th. The company reported $1.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.08. PACCAR had a return on equity of 25.01% and a net margin of 9.34%. The firm had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the business earned $1.18 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts forecast that PACCAR Inc will post 6.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Investors of record on Tuesday, February 12th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.94%. This is an increase from PACCAR’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, February 11th. PACCAR’s payout ratio is 17.95%.
Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC acquired a new stake in PACCAR during the 4th quarter worth about $47,000. Synovus Financial Corp lifted its position in PACCAR by 1,116.5% during the 4th quarter. Synovus Financial Corp now owns 1,253 shares of the company’s stock worth $72,000 after acquiring an additional 1,150 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in PACCAR during the 4th quarter worth about $77,000. Valeo Financial Advisors LLC lifted its position in PACCAR by 85.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock worth $123,000 after acquiring an additional 990 shares during the period. Finally, First Mercantile Trust Co. lifted its position in PACCAR by 106.5% during the 4th quarter. First Mercantile Trust Co. now owns 2,870 shares of the company’s stock worth $164,000 after acquiring an additional 1,480 shares during the period. 60.65% of the stock is owned by institutional investors.
PCAR has been the topic of a number of analyst reports. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Tuesday, October 16th. Loop Capital initiated coverage on PACCAR in a report on Wednesday, October 17th. They issued a “hold” rating and a $68.00 price target on the stock. ValuEngine downgraded PACCAR from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Piper Jaffray Companies upgraded PACCAR from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a report on Wednesday, October 24th. Finally, Argus downgraded PACCAR from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. PACCAR has an average rating of “Hold” and a consensus target price of $68.73.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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