PACCAR (NASDAQ:PCAR) Stock Price Down 0.1%

Shares of PACCAR Inc (NASDAQ:PCAR) fell 0.1% on Thursday . The stock traded as low as $124.07 and last traded at $124.28. 261,096 shares changed hands during trading, a decline of 89% from the average session volume of 2,289,163 shares. The stock had previously closed at $124.46.

Analysts Set New Price Targets

Several research analysts recently commented on PCAR shares. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. TD Cowen lifted their price objective on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Royal Bank of Canada initiated coverage on shares of PACCAR in a research note on Tuesday. They set a “sector perform” rating and a $123.00 price objective on the stock. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, Morgan Stanley began coverage on shares of PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target for the company. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $109.39.

PACCAR Trading Down 0.5 %

The company has a fifty day simple moving average of $109.34 and a 200-day simple moving average of $96.67. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The stock has a market cap of $64.92 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 1.92 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. On average, research analysts forecast that PACCAR Inc will post 8.13 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 4,829 shares of the 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 transaction, the vice president now owns 5,726 shares in the company, valued at $584,739.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value 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 $584,739.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,496 shares of company stock worth $15,834,812. Insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Hedge funds have recently modified their holdings of the business. HighPoint Advisor Group LLC acquired a new position in shares of PACCAR in the fourth quarter valued at $1,203,000. Wahed Invest LLC raised its stake in PACCAR by 8.5% during the fourth quarter. Wahed Invest LLC now owns 8,751 shares of the company’s stock worth $855,000 after acquiring an additional 683 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of PACCAR in the fourth quarter valued at $51,000. SageView Advisory Group LLC bought a new position in PACCAR in the fourth quarter valued at about $320,000. Finally, Fisher Asset Management LLC boosted its holdings in PACCAR by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after buying an additional 83,444 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

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.