PACCAR (NASDAQ:PCAR) Shares Down 0.5%

PACCAR Inc (NASDAQ:PCAR)’s stock price fell 0.5% during trading on Friday . The stock traded as low as $123.55 and last traded at $123.89. 2,280,848 shares traded hands during trading, a decline of 8% from the average session volume of 2,475,114 shares. The stock had previously closed at $124.46.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PCAR. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Evercore ISI upped their price target on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. TD Cowen upped their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. The Goldman Sachs Group upped their price target on PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and upped 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.39.

PACCAR Stock Performance

The firm’s 50 day simple moving average is $109.94 and its 200-day simple moving average is $96.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The company has a market capitalization of $64.92 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.94 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the previous year, the company posted $1.76 EPS. PACCAR’s revenue was up 11.1% on a year-over-year basis. Analysts expect that PACCAR Inc will post 8.13 EPS for the current year.

PACCAR Announces Dividend

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

Insider Activity

In other news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Kevin D. Baney sold 7,203 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the sale, the senior vice president now directly owns 6,621 shares in the company, valued at $682,161.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock worth $15,834,812 in the last ninety days. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Large investors have recently bought and sold shares of the business. Prudential PLC acquired a new position in PACCAR during the 1st quarter worth $763,000. Vanguard Group Inc. lifted its position in PACCAR by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after acquiring an additional 698,784 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its position in PACCAR by 66.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock worth $6,046,000 after acquiring an additional 27,300 shares during the last quarter. Covestor Ltd lifted its position in PACCAR by 73.6% during the 1st quarter. Covestor Ltd now owns 2,118 shares of the company’s stock worth $187,000 after acquiring an additional 898 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in PACCAR by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock worth $9,399,000 after acquiring an additional 792 shares during the last quarter. 64.90% of the stock is currently 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.