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

PACCAR Inc (NASDAQ:PCAR) VP Michael K. Walton sold 9,123 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PACCAR Price Performance

PCAR traded up $0.36 during trading on Monday, reaching $105.15. The company’s stock had a trading volume of 2,779,592 shares, compared to its average volume of 2,459,681. 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 fifty day simple moving average of $116.42 and a two-hundred day simple moving average of $102.78. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The company has a market cap of $55.10 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.63 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its earnings results 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 net margin of 14.30% and a return on equity of 31.71%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period last year, the company posted $2.25 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that PACCAR Inc will post 8.26 EPS for the current 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 given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is presently 12.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PCAR shares. JPMorgan Chase & Co. dropped their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI raised their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group raised their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and raised their target price for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Finally, Truist Financial restated a “hold” rating and set a $121.00 target price (up from $117.00) on shares of PACCAR in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.62.

Institutional Trading of PACCAR

Several institutional investors have recently made changes to their positions in the company. Miracle Mile Advisors LLC raised its position in shares of PACCAR by 3.8% during the 1st quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after buying an additional 91 shares during the period. Morningstar Investment Management LLC raised its position in shares of PACCAR by 1.3% during the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock valued at $740,000 after buying an additional 97 shares during the period. Graypoint LLC raised its position in shares of PACCAR by 2.9% during the 1st quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after buying an additional 99 shares during the period. Kingsview Wealth Management LLC raised its position in shares of PACCAR by 3.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock valued at $315,000 after buying an additional 100 shares during the period. Finally, Evanson Asset Management LLC raised its position in shares of PACCAR by 3.5% during the 1st quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock valued at $400,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.