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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
PCAR stock opened at $69.17 on Friday. 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 firm has a market capitalization of $24.20 billion, a PE ratio of 11.08, a P/E/G ratio of 1.00 and a beta of 1.32. PACCAR Inc has a twelve month low of $53.43 and a twelve month high of $72.89.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 29th. The company reported $1.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.08. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.71 billion. PACCAR had a return on equity of 25.01% and a net margin of 9.34%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 EPS. On average, analysts expect that PACCAR Inc will post 6.42 earnings per share for the current fiscal year.
PACCAR announced that its Board of Directors has approved a stock 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 buy up to 2.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of research analysts have commented on PCAR shares. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Thursday, November 15th. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, November 22nd. Finally, Mizuho dropped coverage on PACCAR in a research report on Thursday, October 25th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has given 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.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in PACCAR by 7.8% during the 4th quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock worth $1,445,476,000 after buying an additional 1,830,638 shares during the period. Oregon Public Employees Retirement Fund raised its stake in PACCAR by 7,876.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,701,443 shares of the company’s stock worth $135,000 after buying an additional 7,604,885 shares during the period. FMR LLC raised its stake in PACCAR by 26.1% during the 3rd quarter. FMR LLC now owns 6,043,716 shares of the company’s stock worth $412,121,000 after buying an additional 1,249,446 shares during the period. Bank of New York Mellon Corp raised its stake in PACCAR by 33.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock worth $410,954,000 after buying an additional 1,505,929 shares during the period. Finally, Geode Capital Management LLC raised its stake in PACCAR by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock worth $289,187,000 after buying an additional 350,337 shares during the period. 60.80% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Harrie Schippers Sells 9,414 Shares of PACCAR Inc (PCAR) Stock” was first reported by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.com-unik.info/2019/02/22/harrie-schippers-sells-9414-shares-of-paccar-inc-pcar-stock.html.
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.
See Also: What is a Derivative?
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.