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

PACCAR Inc (NASDAQ:PCARGet Free Report)’s stock price hit 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.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley started coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target for the company. Royal Bank of Canada assumed coverage on PACCAR in a research report on Tuesday. They set a “sector perform” rating and a $123.00 price target on the stock. Evercore ISI lifted their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $84.00 to $97.00 in a report 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.39.

Get Our Latest Stock Analysis on PCAR

PACCAR Stock Down 0.5 %

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 firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The business has a fifty day moving average price of $110.51 and a two-hundred day moving average price of $97.06.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $8.48 billion. During the same period last year, the firm posted $1.76 EPS. PACCAR’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts expect that PACCAR Inc will post 8.13 earnings per share for the current year.

PACCAR Dividend Announcement

The business 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. 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 Activity at PACCAR

In other 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 sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the sale, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PCAR. Kapitalo Investimentos Ltda lifted its holdings in PACCAR by 19.2% during the fourth quarter. Kapitalo Investimentos Ltda now owns 1,769 shares of the company’s stock valued at $173,000 after purchasing an additional 285 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in shares of PACCAR during the 4th quarter worth about $1,203,000. Wahed Invest LLC lifted its position in shares of PACCAR by 8.5% in the fourth quarter. Wahed Invest LLC now owns 8,751 shares of the company’s stock valued at $855,000 after acquiring an additional 683 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of PACCAR in the fourth quarter worth approximately $51,000. Finally, SageView Advisory Group LLC purchased a new stake in shares of PACCAR during the fourth quarter worth approximately $320,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

(Get Free Report)

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.

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