PACCAR Inc (PCAR) CFO Harrie Schippers Sells 9,414 Shares

Share on StockTwits

PACCAR Inc (NASDAQ:PCAR) CFO Harrie Schippers sold 9,414 shares of the stock in a transaction on Friday, February 15th. The shares were sold at an average price of $68.21, for a total value of $642,128.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

PACCAR stock traded up $0.16 during mid-day trading on Thursday, hitting $69.20. 8,812 shares of the company were exchanged, compared to its average volume of 2,075,465. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 1.19. The company has a market capitalization of $23.91 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.98 and a beta of 1.32. PACCAR Inc has a 12-month low of $53.43 and a 12-month high of $72.89.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 29th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.08. PACCAR had a return on equity of 25.01% and a net margin of 9.34%. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. On average, analysts forecast that PACCAR Inc will post 6.42 EPS for the current fiscal year.

PACCAR announced that its Board of Directors has initiated a share buyback program on Tuesday, December 4th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 12th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, February 11th. This is a boost from PACCAR’s previous quarterly dividend of $0.28. PACCAR’s payout ratio is currently 20.51%.

A number of analysts have weighed in on PCAR shares. Piper Jaffray Companies upgraded PACCAR from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a research note on Wednesday, October 24th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $72.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, October 24th. Credit Suisse Group dropped their price objective on PACCAR from $69.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 24th. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Monday, December 3rd. Finally, Citigroup lowered their price target on PACCAR from $67.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, October 24th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PACCAR presently has a consensus rating of “Hold” and an average price target of $68.72.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Berman Capital Advisors LLC bought a new stake in PACCAR in the fourth quarter valued at about $43,000. Lindbrook Capital LLC bought a new stake in PACCAR in the fourth quarter valued at about $47,000. Synovus Financial Corp increased its holdings in PACCAR by 1,116.5% in the fourth quarter. Synovus Financial Corp now owns 1,253 shares of the company’s stock valued at $72,000 after buying an additional 1,150 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new stake in PACCAR in the fourth quarter valued at about $77,000. Finally, Kinneret Advisory LLC bought a new stake in PACCAR in the fourth quarter valued at about $99,000. 60.80% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This report was first posted by Macon Daily and is the property of of Macon Daily. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://macondaily.com/2019/02/21/paccar-inc-pcar-cfo-harrie-schippers-sells-9414-shares.html.

About PACCAR

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

Recommended Story: Limitations of the P/E Growth ratio

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.