Paulo Henrique Bolgar Sells 12,183 Shares of PACCAR (NASDAQ:PCAR) Stock

PACCAR Inc. (NASDAQ:PCAR) VP Paulo Henrique Bolgar sold 12,183 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total value of $1,491,564.69. Following the transaction, the vice president directly owned 6,274 shares in the company, valued at approximately $768,125.82. This represents a 66.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

PACCAR Trading Up 1.4%

PCAR stock traded up $1.70 during mid-day trading on Monday, reaching $124.61. The company had a trading volume of 2,944,539 shares, compared to its average volume of 3,303,597. The firm has a 50 day moving average of $113.86 and a 200 day moving average of $103.81. The company has a market capitalization of $65.45 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.03 and a beta of 1.03. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $125.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.70 and a quick ratio of 1.42.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 earnings per share. On average, equities analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s payout ratio is presently 29.27%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PCAR. Sanford C. Bernstein set a $138.00 price target on PACCAR and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Wells Fargo & Company set a $119.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Finally, Morgan Stanley upped their price objective on PACCAR from $93.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $115.92.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PCAR. Vanguard Group Inc. raised its position in shares of PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after buying an additional 363,782 shares during the period. State Street Corp grew its holdings in shares of PACCAR by 1.0% during the 2nd quarter. State Street Corp now owns 22,534,596 shares of the company’s stock worth $2,142,139,000 after purchasing an additional 218,188 shares during the period. Geode Capital Management LLC increased its position in shares of PACCAR by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock worth $1,184,112,000 after purchasing an additional 159,632 shares during the last quarter. Capital Research Global Investors raised its holdings in PACCAR by 20.3% in the 3rd quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after buying an additional 1,009,134 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after buying an additional 1,165,443 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.