Mark C. Pigott Sells 194,004 Shares of PACCAR Inc (PCAR) Stock

PACCAR Inc (NASDAQ:PCAR) insider Mark C. Pigott sold 194,004 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $58.84, for a total value of $11,415,195.36. Following the sale, the insider now owns 3,080,449 shares of the company’s stock, valued at approximately $181,253,619.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NASDAQ:PCAR traded down $1.50 during mid-day trading on Friday, hitting $58.36. 1,637,782 shares of the company traded hands, compared to its average volume of 2,797,397. The stock has a market cap of $21.00 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.90 and a beta of 1.39. The company has a quick ratio of 1.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.72. PACCAR Inc has a 12-month low of $53.95 and a 12-month high of $79.69.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.04. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.50 billion. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. PACCAR’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, equities research analysts expect that PACCAR Inc will post 6.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Tuesday, November 13th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, November 9th. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. PACCAR’s payout ratio is 26.29%.

Several large investors have recently made changes to their positions in PCAR. FMR LLC boosted its position in PACCAR by 26.1% in the third quarter. FMR LLC now owns 6,043,716 shares of the company’s stock worth $412,121,000 after purchasing an additional 1,249,446 shares during the last quarter. Bank of New York Mellon Corp boosted its position in PACCAR by 33.3% in the third quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock worth $410,954,000 after purchasing an additional 1,505,929 shares during the last quarter. Boston Partners boosted its position in PACCAR by 1.1% in the second quarter. Boston Partners now owns 3,453,227 shares of the company’s stock worth $213,962,000 after purchasing an additional 36,111 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in PACCAR by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,378,840 shares of the company’s stock worth $147,400,000 after purchasing an additional 86,368 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in PACCAR by 75.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock worth $121,393,000 after purchasing an additional 763,338 shares during the last quarter. 61.33% of the stock is currently owned by institutional investors.

PCAR has been the subject of several recent research reports. BidaskClub upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Credit Suisse Group decreased their price objective on PACCAR from $69.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, October 24th. Argus downgraded PACCAR from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Citigroup boosted their price objective on PACCAR from $65.00 to $67.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $68.73.

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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.

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