PACCAR (NASDAQ:PCAR) Sets New 52-Week High at $105.78

PACCAR Inc (NASDAQ:PCARGet Rating) reached a new 52-week high during trading on Tuesday . The stock traded as high as $105.78 and last traded at $105.74, with a volume of 7368 shares trading hands. The stock had previously closed at $104.36.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on PACCAR from $95.00 to $97.00 in a research note on Wednesday, October 26th. Morgan Stanley raised their target price on PACCAR from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 26th. Wolfe Research downgraded PACCAR from an “outperform” rating to a “peer perform” rating in a research note on Thursday, November 17th. Citigroup raised their target price on PACCAR to $96.00 in a research note on Thursday, October 27th. Finally, Raymond James raised their target price on PACCAR from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $96.36.

PACCAR Stock Down 0.1 %

The business has a fifty day moving average of $92.49 and a 200 day moving average of $88.45. The company has a market capitalization of $36.83 billion, a PE ratio of 14.17, a PEG ratio of 1.28 and a beta of 0.90. The company has a current ratio of 2.66, a quick ratio of 2.38 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCARGet Rating) last announced its earnings results on Tuesday, October 25th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.21. PACCAR had a return on equity of 21.24% and a net margin of 9.50%. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period last year, the business posted $1.08 EPS. PACCAR’s revenue for the quarter was up 41.1% on a year-over-year basis. Equities research analysts anticipate that PACCAR Inc will post 8.15 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.40%. This is a boost from PACCAR’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, November 14th. PACCAR’s dividend payout ratio (DPR) is 19.81%.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 491 shares of PACCAR stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $95.00, for a total value of $46,645.00. Following the completion of the transaction, the vice president now owns 1,628 shares in the company, valued at approximately $154,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO R Preston Feight sold 13,900 shares of PACCAR stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $95.77, for a total value of $1,331,203.00. Following the completion of the transaction, the chief executive officer now owns 62,377 shares in the company, valued at approximately $5,973,845.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 491 shares of PACCAR stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $95.00, for a total value of $46,645.00. Following the completion of the transaction, the vice president now owns 1,628 shares of the company’s stock, valued at approximately $154,660. The disclosure for this sale can be found here. Insiders sold 43,443 shares of company stock worth $4,156,381 in the last three months. 2.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

Hedge funds and other institutional investors have recently made changes to their positions in the business. James Investment Research Inc. acquired a new stake in shares of PACCAR during the 3rd quarter worth about $28,000. Trust Co. of Vermont acquired a new stake in shares of PACCAR during the 2nd quarter worth about $28,000. Tobam acquired a new stake in shares of PACCAR during the 3rd quarter worth about $32,000. Achmea Investment Management B.V. acquired a new stake in shares of PACCAR during the 1st quarter worth about $33,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of PACCAR during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 64.17% of the company’s stock.

PACCAR Company Profile

(Get Rating)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

Further Reading

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