PACCAR (NASDAQ:PCAR) Shares Gap Down to $113.64

PACCAR Inc (NASDAQ:PCAR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $113.64, but opened at $108.00. PACCAR shares last traded at $106.72, with a volume of 1,723,589 shares trading hands.

Analyst Ratings Changes

A number of research firms recently weighed in on PCAR. TD Cowen raised their target price on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Truist Financial assumed coverage on shares of PACCAR in a research note on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target for the company. Morgan Stanley assumed coverage on shares of PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.08.

PACCAR Stock Down 7.4 %

The company has a market capitalization of $55.12 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.68 and a beta of 0.92. 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 firm’s fifty day moving average is $116.69 and its 200-day moving average is $102.18.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.25 EPS. As a group, equities research analysts predict that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given 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 dividend yield of 1.03%. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now owns 5,726 shares in the company, valued at $584,739.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, 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 have sold 66,946 shares of company stock worth $7,003,148 in the last quarter. Company insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Hedge funds have recently modified their holdings of the business. PSI Advisors LLC bought a new position in PACCAR in the 1st quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in PACCAR in the 3rd quarter worth approximately $26,000. AdvisorNet Financial Inc increased its holdings in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in PACCAR in the 1st quarter worth approximately $27,000. Finally, ST Germain D J Co. Inc. boosted its stake in PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the period. 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.