PACCAR (NASDAQ:PCAR) Shares Down 1.5%

PACCAR Inc (NASDAQ:PCAR)’s stock price fell 1.5% during mid-day trading on Friday . The company traded as low as $111.93 and last traded at $112.10. 1,077,835 shares were traded during trading, a decline of 52% from the average session volume of 2,262,575 shares. The stock had previously closed at $113.76.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PCAR. Truist Financial began coverage on PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective for the company. Royal Bank of Canada began coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. The Goldman Sachs Group boosted their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Morgan Stanley began coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and a consensus target price of $110.82.

PACCAR Stock Down 2.4 %

The company has a fifty day moving average of $115.86 and a two-hundred day moving average of $100.66. The company has a market cap of $58.20 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.74 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. PACCAR’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.76 EPS. As a group, analysts anticipate that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 27,320 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock valued at $15,834,812 in the last quarter. 2.02% of the stock is owned by insiders.

Institutional Investors Weigh In On PACCAR

A number of institutional investors have recently added to or reduced their stakes in PCAR. Prudential PLC bought a new stake in PACCAR during the first quarter valued at about $763,000. Vanguard Group Inc. boosted its position in PACCAR by 2.0% during the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after purchasing an additional 698,784 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in 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 in the last quarter. Covestor Ltd boosted 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 in the last quarter. Finally, Mackenzie Financial Corp boosted its position in PACCAR by 0.7% during the first quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock valued at $9,399,000 after purchasing an additional 792 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.