PACCAR Inc. (NASDAQ:PCAR - Get Free Report) VP William Lance Walters sold 1,000 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
PACCAR Price Performance
PACCAR stock opened at $132.06 on Tuesday. The stock's 50 day moving average is $121.87 and its 200 day moving average is $120.97. PACCAR Inc. has a one year low of $92.25 and a one year high of $139.24. The firm has a market cap of $69.51 billion, a P/E ratio of 27.74, a P/E/G 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 - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm posted $1.37 EPS. The company's revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts expect that PACCAR Inc. will post 5.78 EPS for the current year.
PACCAR Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR's dividend payout ratio is currently 29.41%.
Institutional Trading of PACCAR
Several hedge funds have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. grew its stake in shares of PACCAR by 2.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company's stock worth $45,281,000 after acquiring an additional 9,524 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of PACCAR by 165.8% in the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company's stock valued at $2,663,000 after purchasing an additional 15,169 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company's stock valued at $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. Swiss Life Asset Management Ltd boosted its holdings in PACCAR by 118.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company's stock worth $69,943,000 after purchasing an additional 345,937 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company's stock worth $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Institutional investors own 64.90% of the company's stock.
Key Stories Impacting PACCAR
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
Analysts Set New Price Targets
A number of equities analysts recently weighed in on PCAR shares. 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 research note on Thursday, July 2nd. Wells Fargo & Company upped their price target on shares of PACCAR from $125.00 to $157.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on PACCAR from $155.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Finally, Citigroup boosted their price objective on PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $131.70.
Read Our Latest Stock Analysis on PCAR
PACCAR Company Profile
(
Get Free Report)
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.
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