Michael K. Walton Sells 9,123 Shares of PACCAR Inc (NASDAQ:PCAR) Stock

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PACCAR Stock Up 1.4 %

PACCAR stock opened at $106.60 on Wednesday. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. The firm has a market cap of $55.87 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.63 and a beta of 0.96. The business has a fifty day moving average of $116.18 and a two-hundred day moving average of $103.12. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the prior year, the business posted $2.25 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts forecast that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a $0.30 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is currently 11.20%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. PSI Advisors LLC acquired a new position in shares of PACCAR during the first quarter worth $25,000. OFI Invest Asset Management acquired a new position in PACCAR during the 3rd quarter valued at about $26,000. AdvisorNet Financial Inc increased its position in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in PACCAR in the first quarter valued at about $27,000. Finally, Riverview Trust Co acquired a new stake in PACCAR in the first quarter worth about $29,000. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PCAR shares. The Goldman Sachs Group boosted their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Evercore ISI raised their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. TD Cowen boosted their price objective on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada started coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.62.

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.