PACCAR (NASDAQ:PCAR) Reaches New 12-Month High at $125.50

PACCAR Inc (NASDAQ:PCAR)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $125.50 and last traded at $124.31, with a volume of 84224 shares. The stock had previously closed at $124.46.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada started coverage on PACCAR in a research report on Tuesday. They set a “sector perform” rating and a $123.00 price target on the stock. JPMorgan Chase & Co. raised their target price on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. The Goldman Sachs Group raised their target price on PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Truist Financial began coverage on PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.39.

PACCAR Price Performance

The company has a market capitalization of $65.13 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 1.92 and a beta of 0.91. 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 business has a 50 day moving average price of $109.34 and a 200-day moving average price of $96.67.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period in the previous year, the business earned $1.76 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. Research analysts predict that PACCAR Inc will post 8.13 EPS for the current fiscal year.

PACCAR Announces Dividend

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

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’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 transaction of $212,300.00. Following 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. Over the last ninety days, insiders sold 153,496 shares of company stock worth $15,834,812. Company insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Morningstar Investment Management LLC increased its position in shares of PACCAR by 1.3% during the fourth quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock valued at $740,000 after acquiring an additional 97 shares in the last quarter. Kingsview Wealth Management LLC grew its position in PACCAR by 3.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock worth $315,000 after purchasing an additional 100 shares during the period. FORVIS Wealth Advisors LLC grew its position in PACCAR by 0.5% in the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after purchasing an additional 109 shares during the period. Jacobi Capital Management LLC grew its position in PACCAR by 2.9% in the 4th quarter. Jacobi Capital Management LLC now owns 4,288 shares of the company’s stock worth $419,000 after purchasing an additional 121 shares during the period. Finally, Dorsey & Whitney Trust CO LLC grew its position in PACCAR by 0.9% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock worth $1,231,000 after purchasing an additional 124 shares during the period. 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.