Insider Selling: PACCAR (NASDAQ:PCAR) CEO Sells 50,975 Shares

Key Points

• PACCAR CEO R. Preston Feight sold 50,975 shares at an average price of $133.07, generating approximately $6.78 million and reducing his direct ownership by 15.95%.
• PACCAR reported quarterly EPS of $1.43, beating estimates by $0.07, while revenue of $7.55 billion exceeded forecasts and increased slightly year over year.
• The company declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 1.1% yield; analysts have an overall “Hold” rating with a consensus price target of $131.70.

PACCAR Inc. (NASDAQ:PCAR - Get Free Report) CEO R Preston Feight sold 50,975 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 268,625 shares of the company's stock, valued at $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PACCAR Stock Performance

PACCAR stock traded down $0.62 during mid-day trading on Monday, reaching $132.06. 5,879,104 shares of the company's stock were exchanged, compared to its average volume of 3,197,484. The business's fifty day simple moving average is $121.41 and its 200 day simple moving average is $120.88. 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 Inc. has a one year low of $92.25 and a one year high of $139.24. The firm has a market capitalization of $69.51 billion, a PE ratio of 27.74, a P/E/G ratio of 1.06 and a beta of 0.97.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business's revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $1.37 EPS. On average, sell-side analysts expect that PACCAR Inc. will post 5.78 earnings per share for the current 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 paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR's payout ratio is presently 29.41%.

Hedge Funds Weigh In On PACCAR

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after purchasing an additional 290 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of PACCAR by 15.4% in the first quarter. Focus Partners Wealth now owns 13,604 shares of the company's stock worth $1,324,000 after buying an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of PACCAR by 2.3% in the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company's stock valued at $22,886,000 after acquiring an additional 5,327 shares during the period. Ieq Capital LLC grew its stake in PACCAR by 11.5% during the second quarter. Ieq Capital LLC now owns 37,404 shares of the company's stock valued at $3,556,000 after acquiring an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in PACCAR during the 2nd quarter worth approximately $81,000. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the subject of several research analyst reports. Citigroup raised their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday. Morgan Stanley set a $119.00 price objective on PACCAR in a report on Wednesday, July 29th. Wells Fargo & Company increased their price target on PACCAR from $125.00 to $157.00 and gave the stock an "equal weight" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on PACCAR from $155.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Finally, Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $131.70.

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.

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