Insider Selling: PACCAR Inc (NASDAQ:PCAR) VP Sells $636,780.00 in Stock

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now directly owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

PACCAR Stock Performance

PCAR stock opened at $104.46 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company has a 50 day moving average price of $107.50 and a 200 day moving average price of $105.25. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The stock has a market capitalization of $54.82 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 16.69%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $121.77.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of PACCAR during the 4th quarter valued at $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR during the 4th quarter valued at $37,000. Sunbelt Securities Inc. raised its position in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after acquiring an additional 350 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of PACCAR during the 4th quarter valued at $43,000. Institutional investors own 64.90% of the company’s stock.

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.