Grimes & Company Inc., a prominent investment firm, recently announced significant growth in its holdings of PACCAR Inc (NASDAQ:PCAR) during the first quarter. According to the company’s most recent filing with the Securities and Exchange Commission (SEC), Grimes & Company Inc. now owns 13,662 shares of PACCAR’s stock after purchasing an additional 4,556 shares during the quarter. The total value of Grimes & Company Inc.’s holdings in PACCAR amounted to $1,000,000 at the end of the quarter.

In a related development, R Preston Feight, CEO of PACCAR Inc., sold 46,523 shares of the company’s stock on May 8th for an average price of $72.64. This transaction represents a total value of $3,379,430.72. Following this sale, Feight currently holds 128,105 shares valued at $9,305,547.20. The details of this transaction were disclosed in a regulatory filing with the SEC, accessible through the provided link.

Additionally, Vice President Michael T. Barkley sold 25,072 shares of PACCAR’s stock on May 1st at an average price of $75.50 per share. The transaction yielded a total value of $1,892,936.00. As a result of this sale, Barkley now directly holds 51,565 shares valued at approximately $3,893,157.50. Detailed information concerning this transaction can be found in its respective disclosure here.

An analysis over the past three months reveals that insiders have collectively sold 95,529 shares valued at $7,062,964 in company stock transactions for PACCAR Inc., accounting for approximately 2.06% of the firm’s total outstanding stock.

As trading opened on Tuesday morning on NASDAQ under ticker symbol PCAR for PACCAR Inc., shares were valued at $83.64. The firm boasts a debt-to-equity ratio of 0.58, indicating a relatively balanced financial structure. PACCAR’s current and quick ratios stand at 2.59 and 2.33 respectively, highlighting the company’s strong liquidity position. With a market capitalization of $43.71 billion, PACCAR Inc. maintains a price-to-earnings ratio of 13.91 and a beta rating of 0.96, which indicates moderate volatility relative to the broader market.

Over the past twelve months, PACCAR stock has experienced substantial price fluctuations, reaching a low of $51.33 and soaring to its highest point at $85.18.

In conclusion, Grimes & Company Inc.’s increased investment in PACCAR Inc., coupled with recent insider transactions by CEO R Preston Feight and Vice President Michael T. Barkley, reflects dynamic activity within the company’s stocks in the first quarter of this year.

PACCAR’s Growth, Positive Analyst Ratings, and Insider Transactions Attract Investor Attention

PACCAR, a leading global technology company that designs and manufactures high-quality trucks, recently saw an increase in interest from institutional investors and hedge funds. Dakota Wealth Management, Lido Advisors LLC, Brinker Capital Investments LLC, Kentucky Retirement Systems, and CIBC Private Wealth Group LLC all raised their holdings in PACCAR during various quarters. These investors collectively own a significant 66.65% of the company’s stock.

In terms of analyst ratings, StockNews.com initiated coverage on PACCAR with a “buy” rating. OTR Global also had a positive view on the stock. Credit Suisse Group raised its price target for PACCAR from $75.00 to $84.00 while Deutsche Bank Aktiengesellschaft increased theirs from $70.00 to $72.00. BMO Capital Markets went even further by raising their target price to $81.50 for the stock.

CEO R Preston Feight made headlines when he sold 46,523 shares of PACCAR stock at an average price of $72.64 per share, resulting in a total value of $3,379,430.72 in early May. Following the transaction, Feight still holds 128,105 shares worth over $9 million.

VP Michael T. Barkley also sold 25,072 shares of the business’s stock on May 1st at an average price of $75.50 per share, totaling approximately $1,892,936.

PACCAR announced its quarterly earnings results on Tuesday, April 25th and exceeded analysts’ estimates with earnings per share (EPS) of $2.25 compared to the consensus forecast of $1.82 per share—a beat by an impressive margin of $0.43 per share.

The company also reported revenue of $8.05 billion for the quarter—a figure surpassing analysts’ expectations by nearly $300 million.

With a return on equity (ROE) of 27.38% and a net margin of 10.20%, PACCAR demonstrated strong financial performance during the quarter. The company’s quarterly revenue also experienced substantial growth, increasing by 31.8% compared to the same period last year.

Looking ahead, sell-side analysts predict that PACCAR will have earnings per share (EPS) of 7.84 for the current year—an encouraging projection.

Additionally, PACCAR recently announced a quarterly dividend for its shareholders, with investors receiving $0.25 per share if they were recorded on May 17th as shareholders of record. This translates to an annualized dividend of $1 and a yield of 1.20%. The ex-dividend date for this payout was May 16th.

PACCAR’s dividend payout ratio (DPR), which measures the proportion of earnings paid out as dividends to shareholders, currently stands at 16.63%.

In conclusion, PACCAR has garnered attention from institutional investors and hedge funds alike due to their recent increase in holdings in the company. Analysts’ ratings have been generally positive, with expectations for future performance looking favorable based on quarterly financial results and projected EPS figures.

Furthermore, insider transactions by CEO R Preston Feight and VP Michael T. Barkley have also made headlines recently.

Ultimately, PACCAR continues to be an attractive investment option within the market sector it operates in, reaffirmed by its strong financial performance and commitment to delivering shareholder value through dividends.

The post Grimes & Company Inc. Increases Holdings in PACCAR Inc. as CEO and VP Sell Shares appeared first on Best Stocks.