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.
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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.
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