PACCAR (NASDAQ:PCAR) Trading Down 1.3%

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

Analysts Set New Price Targets

A number of brokerages have weighed in on PCAR. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their target price for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Morgan Stanley assumed coverage on shares of PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday. The Goldman Sachs Group lifted their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, TD Cowen lifted their price target on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Trading Down 1.5 %

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 market capitalization of $60.68 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.79 and a beta of 0.92. The firm’s 50 day simple moving average is $115.48 and its two-hundred day simple moving average is $100.46.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 earnings per share. As a group, analysts forecast that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s payout ratio is presently 12.31%.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by insiders.

Institutional Trading of PACCAR

Several hedge funds and other institutional investors have recently modified their holdings of the business. Morningstar Investment Management LLC increased its holdings in PACCAR by 1.3% during the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after acquiring an additional 97 shares during the period. Kingsview Wealth Management LLC increased its holdings in PACCAR by 3.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock worth $315,000 after acquiring an additional 100 shares during the period. Evanson Asset Management LLC increased its holdings in PACCAR by 3.5% during the 1st quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock worth $400,000 after acquiring an additional 108 shares during the period. FORVIS Wealth Advisors LLC increased its holdings in PACCAR by 0.5% during the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after acquiring an additional 109 shares during the period. Finally, Jacobi Capital Management LLC increased its holdings in PACCAR by 2.9% during the 4th quarter. Jacobi Capital Management LLC now owns 4,288 shares of the company’s stock worth $419,000 after acquiring an additional 121 shares during the period. 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.