PACCAR (NASDAQ:PCAR) Trading Up 0.4%

Shares of PACCAR Inc (NASDAQ:PCAR) traded up 0.4% on Thursday . The company traded as high as $116.87 and last traded at $116.44. 464,800 shares changed hands 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 equities research analysts have weighed in on the company. Evercore ISI raised their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Morgan Stanley assumed coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price on the stock. The Goldman Sachs Group raised their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday. Royal Bank of Canada assumed coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and raised their target price 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, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.82.

PACCAR Stock Performance

The firm has a market capitalization of $59.69 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $115.70 and a 200-day moving average of $100.57.

PACCAR (NASDAQ:PCAR) last announced 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 during the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. PACCAR’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.76 EPS. On average, equities analysts anticipate that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Buying and Selling

In related news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock valued at $15,834,812 in the last three months. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its position in shares of PACCAR by 18.0% in 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 in the last quarter. Aigen Investment Management LP acquired a new stake in shares of PACCAR in the 3rd quarter valued at about $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of PACCAR by 42.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock valued at $47,518,000 after buying an additional 166,628 shares during the period. Pacer Advisors Inc. grew its stake in shares of PACCAR by 29.6% in the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after buying an additional 16,390 shares during the period. Finally, Nilsine Partners LLC acquired a new stake in shares of PACCAR in the 4th quarter valued at about $1,337,000. 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.