PACCAR Inc (PCAR) Insider Mark C. Pigott Sells 194,004 Shares
PACCAR Inc (NASDAQ:PCAR) insider Mark C. Pigott sold 194,004 shares of the firm’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 transaction of $11,415,195.36. Following the completion of the sale, the insider now directly owns 3,080,449 shares in the company, valued at approximately $181,253,619.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
PCAR stock opened at $58.36 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 2.63. PACCAR Inc has a twelve month low of $53.95 and a twelve month high of $79.69. The company has a market cap of $21.00 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 0.90 and a beta of 1.39.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.04. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts predict that PACCAR Inc will post 6.16 earnings per share for the current year.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Monday, July 16th. Loop Capital assumed coverage on shares of PACCAR in a report on Wednesday, October 17th. They issued a “hold” rating and a $68.00 target price on the stock. BMO Capital Markets cut shares of PACCAR from an “outperform” rating to a “market perform” rating and set a $80.00 target price on the stock. in a report on Wednesday, July 18th. BidaskClub cut shares of PACCAR from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Morgan Stanley set a $58.00 target price on shares of PACCAR and gave the company a “sell” rating in a report on Wednesday, October 24th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $68.73.
A number of hedge funds have recently added to or reduced their stakes in PCAR. Bank of New York Mellon Corp raised its holdings in PACCAR by 33.3% during 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 in the last quarter. FMR LLC increased its holdings in shares of PACCAR by 26.1% in the 3rd quarter. FMR LLC now owns 6,043,716 shares of the company’s stock valued at $412,121,000 after acquiring an additional 1,249,446 shares during the period. Federated Investors Inc. PA increased its holdings in shares of PACCAR by 9,286.5% in the 2nd quarter. Federated Investors Inc. PA now owns 902,329 shares of the company’s stock valued at $55,908,000 after acquiring an additional 892,716 shares during the period. Schroder Investment Management Group increased its holdings in shares of PACCAR by 934.2% in the 2nd quarter. Schroder Investment Management Group now owns 869,356 shares of the company’s stock valued at $53,935,000 after acquiring an additional 785,295 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of PACCAR by 75.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock valued at $121,393,000 after acquiring an additional 763,338 shares during the period. 61.33% of the stock is currently owned by institutional investors.
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PACCAR Company Profile
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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