Insider Selling: PACCAR (NASDAQ:PCAR) VP Sells $133,500.00 in Stock

Key Points

• PACCAR VP William Lance Walters sold 1,000 shares at an average price of $133.50, for total proceeds of $133,500, according to an SEC filing.
• PACCAR reported quarterly EPS of $1.43, beating estimates of $1.36, while revenue reached $7.55 billion versus expectations of $7.05 billion; revenue increased 0.5% 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 maintain a consensus “Hold” rating with an average price target of $131.70.

PACCAR Inc. (NASDAQ:PCAR - Get Free Report) VP William Lance Walters sold 1,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

PACCAR Stock Performance

Shares of PCAR stock traded down $0.62 during mid-day trading on Monday, hitting $132.06. The stock had a trading volume of 5,879,104 shares, compared to its average volume of 3,197,484. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The company's 50-day simple moving average is $121.41 and its 200-day simple moving average is $120.88. 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.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.05 billion. During the same period in the prior year, the company posted $1.37 earnings per share. The firm's revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts anticipate that PACCAR Inc. will post 5.78 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR's payout ratio is 29.41%.

Institutional Investors Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ares Financial Consulting LLC purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $27,000. Steph & Co. acquired a new stake in PACCAR during the first quarter worth approximately $29,000. MCF Advisors LLC grew its stake in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company's stock worth $28,000 after acquiring an additional 92 shares during the period. Elyxium Wealth LLC purchased a new position in shares of PACCAR during the 4th quarter worth $30,000. Finally, Camelot Portfolios LLC purchased a new position in shares of PACCAR during the 4th quarter worth $33,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PCAR shares. Truist Financial raised their target price 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 reaffirmed an "outperform" rating and set a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Wells Fargo & Company boosted their price objective on shares of PACCAR from $125.00 to $157.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Citigroup upped their target price on shares of PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $131.70.

About PACCAR

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.