PACCAR Inc. (NASDAQ:PCAR) CEO R Preston Feight Sells 39,965 Shares

Key Points

• PACCAR Inc. CEO R Preston Feight sold 39,965 shares of the company's stock for approximately $3.98 million, reducing his ownership by 15.19% to 223,190 shares valued at about $22.21 million.
• The company reported quarterly earnings of $1.37 EPS, beating estimates, but revenue declined by 15.7% year-over-year to $6.96 billion.
• PACCAR recently declared a quarterly dividend of $0.33 per share, which represents an annualized yield of 1.34% with a payout ratio of 22.60%.

PACCAR Inc. (NASDAQ:PCAR - Get Free Report) CEO R Preston Feight sold 39,965 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PACCAR Price Performance

NASDAQ:PCAR traded down $1.75 during mid-day trading on Friday, reaching $97.01. 1,248,270 shares of the stock were exchanged, compared to its average volume of 2,937,698. The business has a fifty day moving average price of $95.35 and a 200 day moving average price of $98.11. The firm has a market capitalization of $50.93 billion, a PE ratio of 16.61, a PEG ratio of 3.95 and a beta of 0.94. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a current ratio of 1.73, a quick ratio of 1.40 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The firm's revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.13 EPS. Research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, August 14th. PACCAR's payout ratio is 22.60%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PCAR. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Evercore ISI decreased their price target on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Truist Financial decreased their price target on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research report on Wednesday, July 23rd. Citigroup lifted their price objective on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Finally, Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.77.

Institutional Investors Weigh In On PACCAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCAR. Brighton Jones LLC lifted its holdings in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after buying an additional 290 shares during the last quarter. RWA Wealth Partners LLC grew its holdings in shares of PACCAR by 133.7% during the fourth quarter. RWA Wealth Partners LLC now owns 5,665 shares of the company's stock worth $589,000 after purchasing an additional 3,241 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of PACCAR by 9.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 65,398 shares of the company's stock worth $6,803,000 after purchasing an additional 5,766 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after purchasing an additional 193 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in PACCAR by 2.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,200,694 shares of the company's stock valued at $332,936,000 after acquiring an additional 63,648 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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.