PACCAR (NASDAQ:PCAR) Shares Down 1.5%

PACCAR Inc (NASDAQ:PCAR) shares traded down 1.5% on Friday . The company traded as low as $111.93 and last traded at $112.10. 1,077,835 shares traded hands during trading, a decline of 52% from the average session volume of 2,262,575 shares. The stock had previously closed at $113.76.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. TD Cowen boosted their target price on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group boosted their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Truist Financial began coverage on shares of PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and a consensus target price of $110.82.

PACCAR Stock Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The stock has a market cap of $58.20 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.74 and a beta of 0.92. The company’s 50 day moving average price is $115.86 and its 200-day moving average price is $100.66.

PACCAR (NASDAQ:PCAR) last posted its 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 net margin of 13.10% and a return on equity of 33.17%. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the business posted $1.76 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business 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 was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.97%. PACCAR’s payout ratio is currently 12.31%.

Insider Activity at PACCAR

In related news, CFO Harrie Schippers sold 32,797 shares of the 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 completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other PACCAR news, CEO R Preston Feight sold 27,320 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The stock was 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 owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On PACCAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Miracle Mile Advisors LLC boosted its position in PACCAR by 3.8% during the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock worth $307,000 after purchasing an additional 91 shares during the period. Morningstar Investment Management LLC lifted its holdings in shares of PACCAR by 1.3% in the fourth quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after buying an additional 97 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of PACCAR by 3.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock worth $315,000 after buying an additional 100 shares in the last quarter. Evanson Asset Management LLC lifted its holdings in shares of PACCAR by 3.5% in the first quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock worth $400,000 after buying an additional 108 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC lifted its holdings in shares of PACCAR by 0.5% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after buying an additional 109 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

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.