David J. Danforth Sells 651 Shares of PACCAR Inc (PCAR) Stock

PACCAR Inc (NASDAQ:PCAR) VP David J. Danforth sold 651 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $59.44, for a total value of $38,695.44. Following the completion of the transaction, the vice president now directly owns 5,453 shares of the company’s stock, valued at $324,126.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NASDAQ:PCAR traded down $1.50 during trading hours on Friday, hitting $58.36. 1,637,782 shares of the company’s stock traded hands, compared to its average volume of 2,797,397. PACCAR Inc has a 52 week low of $53.95 and a 52 week high of $79.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 2.63. The firm has a market capitalization of $21.00 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 0.90 and a beta of 1.39.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts forecast that PACCAR Inc will post 6.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders 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 dividend on an annualized basis and a yield of 1.92%. PACCAR’s payout ratio is 26.29%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vigilant Capital Management LLC purchased a new stake in PACCAR during the second quarter valued at about $105,000. Valeo Financial Advisors LLC raised its position in PACCAR by 85.5% during the third quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock valued at $123,000 after purchasing an additional 990 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in PACCAR by 5,888.2% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock valued at $126,000 after purchasing an additional 2,002 shares in the last quarter. Amussen Hunsaker Associates LLC purchased a new stake in PACCAR during the second quarter valued at about $132,000. Finally, HighPoint Advisor Group LLC purchased a new stake in PACCAR during the third quarter valued at about $178,000. Institutional investors and hedge funds own 61.33% of the company’s stock.

PCAR has been the subject of a number of analyst reports. BidaskClub raised PACCAR from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Credit Suisse Group dropped their price objective on PACCAR from $69.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. Argus lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Citigroup lifted their price objective on PACCAR from $65.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company’s stock. The company 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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