Harrie Schippers Sells 28,676 Shares of PACCAR Inc (NASDAQ:PCAR) Stock

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $107.21 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company’s 50-day moving average is $107.80 and its 200 day moving average is $105.06. The stock has a market capitalization of $56.21 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.75 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, sell-side analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of research reports. Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and an average price target of $121.77.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently modified their holdings of the business. Everence Capital Management Inc. bought a new stake in PACCAR during the fourth quarter worth about $1,984,000. Sanctuary Advisors LLC lifted its holdings in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. boosted its position in shares of PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

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.