PACCAR (NASDAQ:PCAR) Sets New 52-Week High at $122.43

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PCAR shares. JPMorgan Chase & Co. boosted their target price on PACCAR from $116.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Truist Financial started coverage on PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 target price on the stock. Morgan Stanley began coverage on PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price on the stock. Finally, Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.35.

Read Our Latest Analysis on PCAR

PACCAR Stock Performance

The company has a market cap of $64.85 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.94 and a beta of 0.91. The firm has a 50 day moving average price of $107.58 and a 200-day moving average price of $95.65. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40.

PACCAR (NASDAQ:PCARGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the company posted $1.76 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that PACCAR Inc will post 8.13 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed 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 was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.87%. PACCAR’s dividend payout ratio is presently 12.31%.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,496 shares of company stock valued at $15,834,812. Insiders own 2.06% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings 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 worth $3,213,241,000 after buying an additional 698,784 shares in the last quarter. State Street Corp boosted its position in 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 buying an additional 7,020,923 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 buying an additional 4,082,677 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 buying an additional 23,865 shares during the last quarter. 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 owned by institutional investors and hedge funds.

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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