R Preston Feight Sells 33,850 Shares of PACCAR Inc (NASDAQ:PCAR) Stock

PACCAR Inc (NASDAQ:PCAR - Get Free Report) CEO R Preston Feight sold 33,850 shares of the business's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares of the company's stock, valued at $16,397,377.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PACCAR Price Performance

Shares of PACCAR stock traded up $1.87 during trading hours on Thursday, hitting $108.92. The company's stock had a trading volume of 1,887,258 shares, compared to its average volume of 2,456,158. The company has a market cap of $57.09 billion, a PE ratio of 11.30, a PEG ratio of 1.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The business has a 50 day moving average price of $116.10 and a two-hundred day moving average price of $103.15. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $8.25 billion. During the same period in the previous year, the firm earned $2.25 EPS. The firm's revenue was up 2.3% compared to the same quarter last year. Analysts expect that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.10%. This is a boost from PACCAR's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. PACCAR's dividend payout ratio (DPR) is presently 11.20%.

Institutional Trading of PACCAR

A number of institutional investors and hedge funds have recently bought and sold shares of PCAR. Raymond James Financial Services Advisors Inc. grew its holdings in shares of PACCAR by 18.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company's stock valued at $10,450,000 after purchasing an additional 16,360 shares in the last quarter. abrdn plc raised its position in shares of PACCAR by 50.9% during the 4th quarter. abrdn plc now owns 264,756 shares of the company's stock valued at $25,853,000 after buying an additional 89,359 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of PACCAR during the 3rd quarter valued at about $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PACCAR by 42.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company's stock valued at $47,518,000 after acquiring an additional 166,628 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in PACCAR by 29.6% in the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company's stock worth $7,004,000 after acquiring an additional 16,390 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PCAR shares. Royal Bank of Canada started coverage on PACCAR in a research note on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 price target for the company. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. Bank of America upgraded shares of PACCAR from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. The Goldman Sachs Group boosted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a "neutral" rating in a research report on Tuesday, April 16th. Finally, TD Cowen upped their price objective on PACCAR from $91.00 to $108.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.62.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.