PACCAR (NASDAQ:PCAR) Stock Price Down 0.1%

PACCAR Inc (NASDAQ:PCAR) shares fell 0.1% on Thursday . The stock traded as low as $117.70 and last traded at $118.54. 208,063 shares changed hands during trading, a decline of 91% from the average session volume of 2,275,990 shares. The stock had previously closed at $118.69.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCAR. The Goldman Sachs Group upped their price objective on shares of PACCAR from $93.00 to $106.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Truist Financial assumed coverage on PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 target price for the company. Evercore ISI boosted their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $109.39.

PACCAR Price Performance

The stock has a market capitalization of $61.92 billion, a P/E ratio of 13.47, a PEG ratio of 1.80 and a beta of 0.92. The business has a fifty day simple moving average of $114.94 and a 200-day simple moving average of $99.79. 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:PCAR) last posted its quarterly 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. The firm had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 EPS. Sell-side analysts expect that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Buying and Selling

In related news, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the transaction, the chairman now directly owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. 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 ninety days. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Several large investors have recently added to or reduced their stakes in PCAR. OFI Invest Asset Management purchased a new stake in PACCAR in the 3rd quarter worth about $26,000. AdvisorNet Financial Inc boosted its stake in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. ST Germain D J Co. Inc. boosted its stake in PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the period. Riverview Trust Co bought a new position in PACCAR in the 1st quarter worth about $29,000. Finally, Arlington Trust Co LLC bought a new position in PACCAR in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

About PACCAR

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.