PACCAR (NASDAQ:PCAR) Reaches New 1-Year High at $122.43

Shares of PACCAR Inc (NASDAQ:PCARGet Free Report) hit a new 52-week high on Thursday . The company traded as high as $122.43 and last traded at $122.12, with a volume of 86257 shares trading hands. The stock had previously closed at $121.45.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PCAR. Truist Financial began coverage on PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 price target on the stock. Evercore ISI boosted their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $84.00 to $97.00 in a research note on Friday, January 19th. TD Cowen boosted their target price on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Finally, The Goldman Sachs Group boosted their target price on PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.35.

Check Out Our Latest Analysis on PACCAR

PACCAR Stock Performance

The firm has a fifty day simple moving average of $107.58 and a 200 day simple moving average of $95.65. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The stock has a market cap of $64.85 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.94 and a beta of 0.91.

PACCAR (NASDAQ:PCARGet Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the prior year, the firm posted $1.76 EPS. PACCAR’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that PACCAR Inc will post 8.13 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $584,739.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $584,739.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 5,726 shares in the company, valued at $607,814.90. 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 in the last three months. Insiders own 2.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of PACCAR by 2.0% in 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. State Street Corp lifted its stake in shares of PACCAR by 49.0% in the 1st quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after purchasing an additional 7,020,923 shares during the period. Geode Capital Management LLC lifted its stake in shares of PACCAR by 53.3% in the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after purchasing an additional 4,082,677 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of PACCAR by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after purchasing an additional 23,865 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after purchasing an additional 316,001 shares during the period. 65.68% of the stock is currently owned by institutional investors.

PACCAR Company Profile

(Get Free Report)

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.

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