PACCAR (NASDAQ:PCAR) Trading Down 1.3%

PACCAR Inc (NASDAQ:PCAR)’s stock price traded down 1.3% during mid-day trading on Wednesday . The stock traded as low as $115.70 and last traded at $116.01. 495,612 shares were traded during mid-day trading, a decline of 78% from the average session volume of 2,251,522 shares. The stock had previously closed at $117.54.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the company from $84.00 to $97.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. raised their price target on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group raised their price target on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, TD Cowen raised their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Stock Down 1.5 %

The business’s 50 day moving average price is $115.48 and its 200-day moving average price is $100.46. 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 company has a market cap of $60.68 billion, a P/E ratio of 13.23, a PEG ratio of 1.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. PACCAR’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid 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 of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction 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 approximately $584,739.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,496 shares of company stock worth $15,834,812. Insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position 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 valued at $3,213,241,000 after acquiring an additional 698,784 shares during the last quarter. State Street Corp raised its position in shares of PACCAR by 49.0% during the 1st quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after acquiring an additional 7,020,923 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PACCAR by 53.3% in the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after buying an additional 4,082,677 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of PACCAR by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after buying an additional 23,865 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after buying an additional 316,001 shares in the last quarter. 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.