PACCAR (NASDAQ:PCAR) Trading 0.4% Higher

PACCAR Inc (NASDAQ:PCAR)’s share price shot up 0.4% during trading on Thursday . The company traded as high as $116.87 and last traded at $116.44. 464,800 shares were traded during mid-day trading, a decline of 79% from the average session volume of 2,255,215 shares. The stock had previously closed at $115.93.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PCAR. Evercore ISI boosted their price objective on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group boosted their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley initiated coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. 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 report on Friday, January 19th. Finally, TD Cowen boosted their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Stock Down 2.3 %

The firm has a fifty day simple moving average of $115.97 and a 200-day simple moving average of $100.85. The company has a market capitalization of $58.26 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.71 and a beta of 0.92. 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 announced its quarterly 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. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same period in the prior year, the company earned $1.76 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts expect that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given 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 dividend yield of 0.97%. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at $584,739.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the sale, the vice president now owns 5,726 shares in the company, valued at $584,739.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock valued at $15,834,812 over the last three months. Company insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in PACCAR by 18.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock worth $10,450,000 after acquiring an additional 16,360 shares during the period. Aigen Investment Management LP bought a new position in PACCAR during the 3rd quarter worth $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in PACCAR by 42.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock worth $47,518,000 after acquiring an additional 166,628 shares during the period. Pacer Advisors Inc. increased its stake in PACCAR by 29.6% during the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock worth $7,004,000 after acquiring an additional 16,390 shares during the period. Finally, Nilsine Partners LLC bought a new position in PACCAR during the 4th quarter worth $1,337,000. 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.