Insider Selling: PACCAR Inc (NASDAQ:PCAR) SVP Sells $1,038,293.20 in Stock

PACCAR Inc (NASDAQ:PCAR) SVP C Michael Dozier sold 12,158 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $85.40, for a total value of $1,038,293.20. Following the completion of the sale, the senior vice president now owns 9,923 shares of the company’s stock, valued at $847,424.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

PACCAR stock opened at $84.61 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.09 and a current ratio of 1.32. PACCAR Inc has a 52 week low of $49.11 and a 52 week high of $87.24. The stock has a market capitalization of $29.20 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The stock has a fifty day moving average of $77.17 and a 200-day moving average of $71.45.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 21st. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. PACCAR had a return on equity of 16.85% and a net margin of 7.95%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The business’s revenue for the quarter was down 56.9% compared to the same quarter last year. On average, research analysts forecast that PACCAR Inc will post 3.19 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, August 10th. This is a boost from PACCAR’s previous quarterly dividend of $0.09. PACCAR’s dividend payout ratio is presently 18.63%.

A number of analysts have recently weighed in on PCAR shares. Credit Suisse Group upped their target price on PACCAR from $72.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their target price on PACCAR from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. TheStreet upgraded PACCAR from a “c+” rating to a “b-” rating in a research report on Wednesday, April 22nd. Raymond James upped their target price on PACCAR from $90.00 to $95.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, BidaskClub upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $85.21.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Advisors Inc. increased its holdings in PACCAR by 5.9% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,533 shares of the company’s stock worth $190,000 after purchasing an additional 140 shares in the last quarter. Clearbridge Investments LLC increased its holdings in PACCAR by 2.1% in the 1st quarter. Clearbridge Investments LLC now owns 7,416 shares of the company’s stock worth $453,000 after purchasing an additional 156 shares in the last quarter. KCS Wealth Advisory increased its holdings in PACCAR by 0.8% in the 1st quarter. KCS Wealth Advisory now owns 21,384 shares of the company’s stock worth $1,307,000 after purchasing an additional 163 shares in the last quarter. CSat Investment Advisory L.P. increased its holdings in PACCAR by 15.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 1,331 shares of the company’s stock worth $81,000 after purchasing an additional 180 shares in the last quarter. Finally, Fruth Investment Management increased its holdings in PACCAR by 3.8% in the 1st quarter. Fruth Investment Management now owns 5,500 shares of the company’s stock worth $336,000 after purchasing an additional 200 shares in the last quarter. 61.39% of the stock is owned by institutional investors and hedge funds.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

Featured Story: Why do company’s buyback their stock?

Insider Buying and Selling by Quarter for PACCAR (NASDAQ:PCAR)

Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.