PACCAR (NASDAQ:PCAR) Reaches New 12-Month High at $125.50

PACCAR Inc (NASDAQ:PCAR) reached a new 52-week high during trading on Thursday . The company traded as high as $125.50 and last traded at $124.31, with a volume of 84224 shares traded. The stock had previously closed at $124.46.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCAR. TD Cowen boosted their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group upped their price objective on shares of PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Royal Bank of Canada assumed coverage on shares of PACCAR in a research report on Tuesday. They issued a “sector perform” rating and a $123.00 price objective for the company. Morgan Stanley assumed coverage on shares of PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective for the company. Finally, Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.39.

PACCAR Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. The stock’s fifty day simple moving average is $109.34 and its 200-day simple moving average is $96.67. The stock has a market cap of $65.13 billion, a P/E ratio of 14.17, a PEG ratio of 1.92 and a beta of 0.91.

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

PACCAR Announces Dividend

The company also recently declared 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 of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.87%. PACCAR’s payout ratio is currently 12.31%.

Insider Buying and Selling at PACCAR

In related news, CFO Harrie Schippers sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction of $742,125.09. Following the transaction, the senior vice president now owns 6,621 shares in the company, valued at $682,161.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,589,751.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by company insiders.

Institutional Trading of PACCAR

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in PACCAR by 2.0% during the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after buying an additional 698,784 shares in the last quarter. State Street Corp boosted its holdings in PACCAR by 49.0% during the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock worth $1,562,477,000 after buying an additional 7,020,923 shares in the last quarter. Geode Capital Management LLC boosted its holdings in PACCAR by 53.3% during the first quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock worth $858,948,000 after buying an additional 4,082,677 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in PACCAR by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after buying an additional 23,865 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in PACCAR by 6.0% during the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after buying an additional 316,001 shares in the last quarter. 64.90% of the stock is currently 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.