PACCAR (NASDAQ:PCAR) Trading Down 1.3%

PACCAR Inc (NASDAQ:PCAR) shares were down 1.3% on Wednesday . The company traded as low as $115.70 and last traded at $116.01. Approximately 495,612 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 2,251,522 shares. The stock had previously closed at $117.54.

Analyst Ratings Changes

PCAR has been the topic of several recent research reports. Truist Financial started coverage on PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective on the stock. TD Cowen increased their target price on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and increased their target price for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Evercore ISI increased their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday. 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, PACCAR has a consensus rating of “Moderate Buy” and an average target price of $110.82.

PACCAR Stock Up 0.0 %

The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $115.86 and a 200 day simple moving average of $100.66. The stock has a market cap of $59.64 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.74 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.48 billion. During the same quarter last year, the firm posted $1.76 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts expect that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.95%. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Insider Activity at PACCAR

In related news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, 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 valued at $15,834,812 over the last 90 days. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential PLC bought a new position in shares of PACCAR during the first quarter valued at $763,000. Vanguard Group Inc. raised its position in shares of PACCAR by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after purchasing an additional 698,784 shares during the period. Candriam Luxembourg S.C.A. grew its stake in PACCAR by 66.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock valued at $6,046,000 after acquiring an additional 27,300 shares in the last quarter. Covestor Ltd grew its stake in shares of PACCAR by 73.6% in the 1st quarter. Covestor Ltd now owns 2,118 shares of the company’s stock worth $187,000 after buying an additional 898 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of PACCAR by 0.7% in the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock worth $9,399,000 after buying an additional 792 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

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.