PACCAR (NASDAQ:PCAR) Stock Price Down 1.5%

PACCAR Inc (NASDAQ:PCAR) shares fell 1.5% during trading on Friday . The company traded as low as $111.93 and last traded at $112.10. 1,077,835 shares traded hands 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 have commented on PCAR. Morgan Stanley initiated coverage on PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective for the company. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Evercore ISI boosted their target price on 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 started coverage on PACCAR in a research note on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price objective on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Eight investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.82.

PACCAR Trading Down 2.3 %

The stock has a market cap of $58.26 billion, a PE ratio of 12.68, a P/E/G ratio of 1.71 and a beta of 0.92. The firm has a 50-day simple moving average of $115.97 and a 200-day simple moving average of $100.96. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54.

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

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.97%. PACCAR’s payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related 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 value of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in PACCAR during the first quarter valued at about $29,000. Rise Advisors LLC purchased a new stake in PACCAR during the first quarter valued at about $31,000. AdvisorNet Financial Inc boosted its position in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the period. OFI Invest Asset Management purchased a new stake in PACCAR during the third quarter valued at about $26,000. Finally, ST Germain D J Co. Inc. boosted its position in PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 130 shares during the period. Institutional investors own 64.90% of the company’s stock.

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.