PACCAR (NASDAQ:PCAR) CEO R Preston Feight Sells 9,258 Shares of Stock

PACCAR Inc. (NASDAQ:PCAR) CEO R Preston Feight sold 9,258 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the completion of the transaction, the chief executive officer owned 258,566 shares of the company’s stock, valued at $33,536,010.20. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

R Preston Feight also recently made the following trade(s):

• On Friday, January 30th, R Preston Feight sold 9,258 shares of PACCAR stock. The shares were sold at an average price of $122.39, for a total transaction of $1,133,086.62.
• On Monday, February 2nd, R Preston Feight sold 9,258 shares of PACCAR stock. The stock was sold at an average price of $123.65, for a total transaction of $1,144,751.70.

PACCAR Trading Down 1.1%

NASDAQ:PCAR opened at $127.42 on Friday. The stock has a market capitalization of $66.92 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.08 and a beta of 1.03. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $131.88. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $115.68 and a 200 day moving average of $104.59.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is currently 29.27%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCAR. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Truist Financial boosted their price target on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $116.50.

Institutional Investors Weigh In On PACCAR

Several hedge funds have recently modified their holdings of PCAR. JT Stratford LLC acquired a new stake in shares of PACCAR during the 2nd quarter worth approximately $1,301,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of PACCAR by 77.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock valued at $22,631,000 after purchasing an additional 103,664 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of PACCAR by 29.1% during the 3rd quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock worth $3,893,000 after purchasing an additional 8,932 shares during the period. National Pension Service increased its position in shares of PACCAR by 5.5% during the 3rd quarter. National Pension Service now owns 939,146 shares of the company’s stock worth $92,337,000 after purchasing an additional 48,711 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of PACCAR during the third quarter valued at about $3,817,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

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.