PACCAR (NASDAQ:PCAR) Trading 0.2% Higher

PACCAR Inc (NASDAQ:PCAR) traded up 0.2% during mid-day trading on Tuesday . The company traded as high as $123.86 and last traded at $123.67. Approximately 178,663 shares traded hands during trading, a decline of 92% from the average daily volume of 2,313,090 shares. The stock had previously closed at $123.40.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. lifted their target price on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Royal Bank of Canada started coverage on PACCAR in a research report on Tuesday. They issued a “sector perform” rating and a $123.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of PACCAR from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, UBS Group raised shares of 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. Eight investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.39.

PACCAR Stock Up 1.2 %

The stock has a fifty day simple moving average of $109.34 and a two-hundred day simple moving average of $96.67. The firm has a market cap of $65.22 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91. The company has a current ratio of 2.40, a quick ratio of 2.21 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 business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.76 EPS. As a group, sell-side analysts expect that PACCAR Inc will post 8.13 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other PACCAR news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now owns 145,495 shares of the company’s stock, valued at $15,010,719.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kevin D. Baney sold 7,203 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the transaction, the senior vice president now directly owns 6,621 shares in the company, valued at $682,161.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of PACCAR by 49.0% in the first 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 period. Norges Bank purchased a new stake in PACCAR in the 4th quarter worth approximately $448,288,000. Geode Capital Management LLC grew 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 worth $858,948,000 after buying an additional 4,082,677 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of PACCAR by 249.2% during the first quarter. Wellington Management Group LLP now owns 3,845,387 shares of the company’s stock valued at $338,663,000 after buying an additional 2,744,040 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of PACCAR by 2,578.2% during the first quarter. Mercer Global Advisors Inc. ADV now owns 2,292,972 shares of the company’s stock valued at $167,846,000 after acquiring an additional 2,207,357 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.