Insider Selling: PACCAR Inc (NASDAQ:PCAR) VP Sells 2,067 Shares of Stock

PACCAR Inc (NASDAQ:PCAR - Get Free Report) VP Brice J. Poplawski sold 2,067 shares of the firm's stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

PACCAR Stock Up 0.2 %

Shares of NASDAQ PCAR traded up $0.26 during mid-day trading on Friday, reaching $109.18. 1,810,828 shares of the company traded hands, compared to its average volume of 2,449,071. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. 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 company's fifty day moving average is $116.06 and its two-hundred day moving average is $103.19. The stock has a market cap of $57.23 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96.

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

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.10%. This is a positive change from PACCAR's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. PACCAR's payout ratio is 11.20%.

Hedge Funds Weigh In On PACCAR

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in PACCAR in the 4th quarter valued at about $448,288,000. TD Asset Management Inc grew its position in shares of PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company's stock valued at $202,358,000 after buying an additional 1,095,894 shares during the last quarter. Point72 Asset Management L.P. bought a new position in PACCAR during the 4th quarter worth approximately $87,441,000. Epoch Investment Partners Inc. raised its position in shares of PACCAR by 113.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company's stock worth $103,408,000 after acquiring an additional 562,571 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its position in shares of PACCAR by 3,636.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company's stock worth $67,696,000 after buying an additional 531,794 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on PCAR. Evercore ISI boosted their price target on PACCAR from $94.00 to $101.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 20th. TD Cowen boosted 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. JPMorgan Chase & Co. cut their target price on PACCAR from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Wednesday, May 1st. Truist Financial reiterated a "hold" rating and set a $121.00 price target (up from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 target price on the stock. Seven equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $112.62.

PACCAR Company Profile

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.