PACCAR (NASDAQ:PCAR) Stock Price Down 0.3%

PACCAR Inc (NASDAQ:PCAR) shares traded down 0.3% during mid-day trading on Tuesday . The company traded as low as $117.00 and last traded at $117.65. 296,060 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 2,257,040 shares. The stock had previously closed at $118.02.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada assumed coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley began coverage on PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective on the stock. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.82.

PACCAR Trading Down 1.4 %

The stock has a market capitalization of $60.75 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92. The firm has a 50-day moving average price of $115.70 and a 200-day moving average price of $100.57. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period last year, the firm posted $1.76 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts forecast that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is presently 12.31%.

Insider Activity

In other news, CFO Harrie Schippers sold 5,000 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock worth $15,834,812 over the last ninety days. Company insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Optas LLC bought a new position in shares of PACCAR in the first quarter worth approximately $240,000. Founders Financial Securities LLC purchased a new stake in PACCAR in the first quarter worth approximately $748,000. OneAscent Wealth Management LLC purchased a new stake in PACCAR in the first quarter worth approximately $225,000. Indiana Trust & Investment Management CO boosted its stake in PACCAR by 337.9% in the first quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock worth $67,000 after buying an additional 419 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in PACCAR in the first quarter worth approximately $3,605,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.