Insider Selling: PACCAR (NASDAQ:PCAR) CFO Sells $261,025.00 in Stock

Key Points

• PACCAR CFO Brice Poplawski sold 1,970 shares for approximately $261,025 at an average price of $132.50, reducing his direct holdings by 58.61% to 1,391 shares.
• PACCAR reported quarterly adjusted earnings of $1.43 per share, exceeding the $1.36 consensus estimate, while revenue of $7.55 billion also surpassed expectations.
• Shares traded near $132, while analysts maintained a consensus “Hold” rating with an average price target of $131.70; the company also declared a $0.35 quarterly dividend.

PACCAR Inc. (NASDAQ:PCAR - Get Free Report) CFO Brice Poplawski sold 1,970 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the transaction, the chief financial officer directly owned 1,391 shares of the company's stock, valued at approximately $184,307.50. This represents a 58.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

PACCAR Price Performance

PACCAR stock traded down $0.62 during midday trading on Monday, reaching $132.06. 5,879,104 shares of the stock were exchanged, compared to its average volume of 3,197,484. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The firm has a market cap of $69.51 billion, a PE ratio of 27.74, a PEG ratio of 1.06 and a beta of 0.97. The company's fifty day moving average is $121.41 and its 200-day moving average is $120.88.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 9.00% and a return on equity of 12.73%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. On average, sell-side analysts forecast that PACCAR Inc. will post 5.78 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors 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 annualized dividend and a yield of 1.1%. PACCAR's dividend payout ratio (DPR) is currently 29.41%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup upped their target price on PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Truist Financial boosted their price objective on PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. Wells Fargo & Company upped their price objective on shares of PACCAR from $125.00 to $157.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. 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, PACCAR has a consensus rating of "Hold" and an average target price of $131.70.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PCAR. Brighton Jones LLC raised its position in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after purchasing an additional 290 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of PACCAR by 15.4% in the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company's stock worth $1,324,000 after purchasing an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company's stock valued at $22,886,000 after purchasing an additional 5,327 shares during the last quarter. Ieq Capital LLC increased its position in shares of PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company's stock valued at $3,556,000 after purchasing an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of PACCAR during the 2nd quarter valued at about $81,000. 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.

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