PACCAR (NASDAQ:PCAR) VP William Lance Walters Sells 1,000 Shares of Stock

PACCAR Inc. (NASDAQ:PCAR) VP William Lance Walters sold 1,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

PACCAR Price Performance

NASDAQ PCAR opened at $132.06 on Tuesday. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24. The stock’s 50-day moving average is $121.87 and its two-hundred day moving average is $120.97. The firm has a market cap of $69.51 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.37 EPS. On average, analysts anticipate that PACCAR Inc. will post 5.78 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s payout ratio is 29.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wells Fargo & Company increased their price target on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Citigroup upped their price objective on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Truist Financial lifted their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $131.70.

Institutional Investors Weigh In On PACCAR

Several hedge funds have recently modified their holdings of PCAR. Deseret Mutual Benefit Administrators increased its position in PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after acquiring an additional 80 shares during the period. Gulf International Bank UK Ltd lifted its holdings in shares of PACCAR by 0.3% during the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after purchasing an additional 81 shares during the period. CYBER HORNET ETFs LLC lifted its holdings in shares of PACCAR by 6.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after purchasing an additional 87 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of PACCAR by 3.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock worth $317,000 after purchasing an additional 87 shares during the last quarter. Finally, Jackson Square Capital LLC grew its stake in shares of PACCAR by 3.5% in the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock worth $290,000 after purchasing an additional 90 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Key PACCAR News

Here are the key news stories impacting PACCAR this week:

• Positive Sentiment: PACCAR’s latest quarterly results exceeded expectations: adjusted EPS was $1.43 versus the $1.36 consensus, while revenue reached $7.55 billion compared with estimates of $7.05 billion. Revenue increased 0.5% year over year, providing evidence of resilient demand. PACCAR stock information
• Positive Sentiment: The company declared a quarterly dividend of $0.35 per share, payable September 2 to shareholders of record August 12. The annualized payout is $1.40, representing an approximately 1.1% yield and a manageable 29.41% payout ratio. Dividend increase article
• Positive Sentiment: Several analysts raised their targets following the earnings report. JPMorgan increased its target to $164 with an overweight rating, while Wells Fargo lifted its target to $157, although it maintained an equal-weight rating. Bernstein reiterated an outperform rating with a $148 target.
• Neutral Sentiment: Despite the target increases, analyst sentiment remains cautious: the consensus rating is “Hold,” based on three Buy and eleven Hold ratings, with an average target of $131.70. PCAR is trading near its 52-week high, at a valuation of about 27.7 times earnings.
• Negative Sentiment: Insider selling is the clearest near-term overhang. CEO R. Preston Feight sold 50,975 shares for approximately $6.78 million, reducing his direct stake by 15.95%. CFO Brice J. Poplawski sold 1,970 shares, cutting his position by 58.61%, while VPs William Lance Walters and Paulo Henrique Bolgar also sold shares. The transactions may raise caution about insider conviction, although insider sales can also reflect personal financial planning. PACCAR insider selling article

PACCAR Company Profile

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.