PACCAR (NASDAQ:PCAR) Stock Price Down 0.3%

Shares of PACCAR Inc (NASDAQ:PCAR) were down 0.3% on Tuesday . The company traded as low as $117.00 and last traded at $117.65. Approximately 296,060 shares changed hands during trading, a decline of 87% from the average daily volume of 2,257,040 shares. The stock had previously closed at $118.02.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PCAR shares. Truist Financial started coverage on PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective on the stock. TD Cowen lifted their target price on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Bank of America raised 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 research note on Friday, January 19th. The Goldman Sachs Group lifted their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Royal Bank of Canada started coverage on PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Trading Down 1.4 %

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 50 day simple moving average of $115.70 and a 200-day simple moving average of $100.57. The firm has a market cap of $60.75 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.78 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 EPS. On average, equities research analysts expect that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is 12.31%.

Insider Transactions at PACCAR

In other news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACCAR

Large investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its holdings in PACCAR by 18.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after acquiring an additional 16,360 shares during the period. Aigen Investment Management LP purchased a new position in PACCAR during the 3rd quarter valued at $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in PACCAR by 42.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock valued at $47,518,000 after acquiring an additional 166,628 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of PACCAR by 29.6% in the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock worth $7,004,000 after buying an additional 16,390 shares during the period. Finally, Nilsine Partners LLC purchased a new stake in shares of PACCAR in the 4th quarter worth $1,337,000. Hedge funds and other 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.