PACCAR (NASDAQ:PCAR) Trading 0.6% Higher

Shares of PACCAR Inc (NASDAQ:PCAR) traded up 0.6% during mid-day trading on Wednesday . The stock traded as high as $124.23 and last traded at $123.78. 228,859 shares traded hands during trading, a decline of 90% from the average session volume of 2,304,486 shares. The stock had previously closed at $123.01.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $84.00 to $97.00 in a report on Friday, January 19th. Truist Financial started coverage on shares of PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective for the company. Evercore ISI upped their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, The Goldman Sachs Group increased their price objective on shares of PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $109.39.

PACCAR Price 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 firm has a market capitalization of $64.92 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.94 and a beta of 0.91. The stock’s 50 day simple moving average is $109.94 and its 200 day simple moving average is $96.87.

PACCAR (NASDAQ:PCAR) last released 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 net margin of 13.10% and a return on equity of 33.17%. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period last year, the firm earned $1.76 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, analysts expect that PACCAR Inc will post 8.13 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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

Insider Buying and Selling at PACCAR

In other PACCAR news, SVP Kevin D. Baney sold 7,203 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the sale, the senior vice president now directly owns 6,621 shares in the company, valued at $682,161.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other PACCAR news, SVP Kevin D. Baney sold 7,203 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the sale, the senior vice president now directly owns 6,621 shares in the company, valued at $682,161.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was 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 directly owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock worth $15,834,812 over the last three months. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. HighPoint Advisor Group LLC purchased a new position in shares of PACCAR during the fourth quarter worth $1,203,000. Wahed Invest LLC raised its position in shares of PACCAR by 8.5% in 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 during the period. ICA Group Wealth Management LLC acquired a new position in shares of PACCAR in the fourth quarter worth about $51,000. SageView Advisory Group LLC acquired a new position in shares of PACCAR in the fourth quarter worth about $320,000. Finally, Fisher Asset Management LLC raised its position in shares of PACCAR by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after acquiring an additional 83,444 shares during the period. Hedge funds and other 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.