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

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.

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

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.

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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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