PACCAR (NASDAQ:PCAR) Trading 0.2% Higher

PACCAR Inc (NASDAQ:PCAR)’s stock price was up 0.2% on Tuesday . The stock traded as high as $123.86 and last traded at $123.67. Approximately 178,663 shares were traded during trading, a decline of 92% from the average daily volume of 2,313,090 shares. The stock had previously closed at $123.40.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PCAR. Royal Bank of Canada started coverage on shares of PACCAR in a report on Tuesday. They issued a “sector perform” rating and a $123.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on PACCAR from $116.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. TD Cowen upped their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Finally, Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Eight equities research 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.39.

PACCAR Price Performance

The business has a 50-day moving average price of $109.34 and a two-hundred day moving average price of $96.67. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $65.22 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping 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 firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period in the previous year, the company posted $1.76 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that PACCAR Inc will post 8.13 EPS for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors 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 payout ratio is 12.31%.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’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 completion of the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was 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 in the company, valued at $607,814.90. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock valued at $15,834,812 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

Institutional Trading of PACCAR

Large investors have recently added to or reduced their stakes in the stock. Prudential PLC bought a new position in shares of PACCAR during the first quarter valued at approximately $763,000. Vanguard Group Inc. grew its stake in shares of PACCAR by 2.0% in the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after acquiring an additional 698,784 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in shares of PACCAR by 66.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock valued at $6,046,000 after purchasing an additional 27,300 shares during the last quarter. Covestor Ltd lifted its position in PACCAR by 73.6% during the first quarter. Covestor Ltd now owns 2,118 shares of the company’s stock valued at $187,000 after purchasing an additional 898 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of PACCAR by 0.7% in the first quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock worth $9,399,000 after acquiring an additional 792 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.