PACCAR (NASDAQ:PCAR) Trading Down 1.3%

PACCAR Inc (NASDAQ:PCAR)’s stock price dropped 1.3% on Wednesday . The stock traded as low as $115.70 and last traded at $116.01. Approximately 495,612 shares were traded during trading, a decline of 78% from the average daily volume of 2,251,522 shares. The stock had previously closed at $117.54.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Evercore ISI lifted their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $104.00 to $136.00 in a report on Friday, March 15th. Royal Bank of Canada began coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Finally, The Goldman Sachs Group boosted their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.82.

PACCAR Price Performance

The company has a market capitalization of $59.64 billion, a PE ratio of 12.97, a P/E/G ratio of 1.74 and a beta of 0.92. The stock has a fifty day simple moving average of $115.86 and a 200-day simple moving average of $100.66. 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 announced its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The company had revenue of $8.59 billion for 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%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.76 EPS. Equities analysts anticipate that PACCAR Inc will post 8.21 earnings per share for the current year.

PACCAR Announces Dividend

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

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 5,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Harrie Schippers sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin D. Baney sold 7,203 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $103.03, for a total transaction of $742,125.09. Following the sale, the senior vice president now owns 6,621 shares of the company’s stock, valued at $682,161.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,496 shares of company stock valued at $15,834,812. Insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of institutional investors have recently modified their holdings of PCAR. Prudential PLC acquired a new stake in shares of PACCAR during the 1st quarter valued at $763,000. Vanguard Group Inc. boosted its stake in shares of PACCAR by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after buying an additional 698,784 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of PACCAR by 66.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock valued at $6,046,000 after buying an additional 27,300 shares during the period. Covestor Ltd boosted its stake in shares of PACCAR by 73.6% during the 1st quarter. Covestor Ltd now owns 2,118 shares of the company’s stock valued at $187,000 after buying an additional 898 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of PACCAR by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock valued at $9,399,000 after purchasing an additional 792 shares in the last quarter. Institutional investors and hedge funds 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.