PACCAR (NASDAQ:PCAR) Trading 0.6% Higher

PACCAR Inc (NASDAQ:PCAR) shot up 0.6% during mid-day trading on Wednesday . The company traded as high as $124.23 and last traded at $123.78. 228,859 shares changed 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 Upgrades and Downgrades

A number of brokerages have issued reports on PCAR. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $84.00 to $97.00 in a report on Friday, January 19th. TD Cowen lifted their price objective on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Morgan Stanley initiated coverage on PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective for the company. Evercore ISI lifted their price objective on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Truist Financial assumed coverage on PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 target price on the stock. Eight investment 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.39.

PACCAR Trading Down 0.5 %

The business has a 50 day moving average price of $109.94 and a 200-day moving average price of $96.87. 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 company has a market cap of $64.92 billion, a P/E ratio of 14.13, a PEG ratio of 1.94 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating 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 business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the business earned $1.76 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts forecast that PACCAR Inc will post 8.13 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the sale, the vice president now owns 5,726 shares in the company, valued at approximately $584,739.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,496 shares of company stock worth $15,834,812. Company insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

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

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.