PACCAR (NASDAQ:PCAR) Shares Down 0.7%

PACCAR Inc (NASDAQ:PCAR) shares fell 0.7% on Friday . The company traded as low as $117.80 and last traded at $118.06. 308,176 shares traded hands during trading, a decline of 86% from the average session volume of 2,265,711 shares. The stock had previously closed at $118.88.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PCAR. Evercore ISI lifted their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Truist Financial began coverage on shares of PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 price target on the stock. TD Cowen lifted their price target on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, Morgan Stanley assumed coverage on shares of PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price on the stock. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.39.

PACCAR Price Performance

The stock has a fifty day moving average of $114.94 and a 200-day moving average of $99.90. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $61.92 billion, a P/E ratio of 13.47, a PEG ratio of 1.80 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.76 EPS. Equities analysts predict that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.91%. PACCAR’s dividend payout ratio is currently 12.31%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at $15,010,719.15. The disclosure for this sale can be found here. In the last three months, insiders sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is currently owned by insiders.

Institutional Trading of PACCAR

Institutional investors and hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in shares of PACCAR in the 3rd quarter valued at about $26,000. AdvisorNet Financial Inc increased its stake in shares of PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares during the last quarter. Riverview Trust Co bought a new stake in shares of PACCAR in the 1st quarter valued at about $29,000. Finally, Arlington Trust Co LLC bought a new stake in shares of PACCAR in the 3rd quarter valued at about $30,000. 64.90% of the stock is owned by institutional investors.

About PACCAR

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.