PACCAR (NASDAQ:PCAR) Sets New 12-Month High – Time to Buy?

PACCAR Inc. (NASDAQ:PCAR)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $127.52 and last traded at $126.9050, with a volume of 193029 shares changing hands. The stock had previously closed at $124.61.

Analyst Ratings Changes

PCAR has been the topic of several research reports. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial increased their price target on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Finally, Morgan Stanley set a $109.00 price objective on shares of PACCAR in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $116.50.

PACCAR Stock Performance

The business’s 50 day simple moving average is $114.30 and its two-hundred day simple moving average is $104.02. The firm has a market capitalization of $67.08 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. The company has a current ratio of 1.70, a quick ratio of 1.42 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. PACCAR’s revenue was down 15.1% compared to the same quarter last year. Research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, February 11th. PACCAR’s payout ratio is 29.27%.

Insider Buying and Selling at PACCAR

In related news, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $123.99, for a total transaction of $272,778.00. Following the transaction, the chief financial officer directly owned 903 shares in the company, valued at approximately $111,962.97. The trade was a 70.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the sale, the vice president owned 6,274 shares of the company’s stock, valued at approximately $768,125.82. The trade was a 66.01% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCAR. Brighton Jones LLC raised its position in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares during the period. Focus Partners Wealth lifted its position in shares of PACCAR by 15.4% in the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,812 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of PACCAR during the second quarter worth about $71,000. KLP Kapitalforvaltning AS raised its stake in PACCAR by 6.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 328,236 shares of the company’s stock valued at $31,202,000 after purchasing an additional 19,600 shares during the period. Finally, Bellevue Asset Management LLC lifted its holdings in PACCAR by 10.2% in the 2nd quarter. Bellevue Asset Management LLC now owns 3,478 shares of the company’s stock worth $331,000 after purchasing an additional 322 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.