PACCAR (NASDAQ:PCAR) Trading Up 0.4%

PACCAR Inc (NASDAQ:PCAR)’s share price traded up 0.4% during trading on Thursday . The company traded as high as $116.87 and last traded at $116.44. 464,800 shares traded 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 commented 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 for the company. 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. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, TD Cowen raised their target price on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.82.

PACCAR Stock Down 1.7 %

The firm has a 50-day moving average of $115.70 and a 200 day moving average of $100.57. The stock has a market capitalization of $59.69 billion, a price-to-earnings 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.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.25 by $0.45. The firm 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%. PACCAR’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 EPS. On average, sell-side analysts anticipate that PACCAR Inc will post 8.16 earnings per share for the current year.

PACCAR Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCAR. OFI Invest Asset Management bought a new position in PACCAR during the third quarter valued at about $26,000. AdvisorNet Financial Inc boosted its position in shares of PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares during the period. Riverview Trust Co acquired a new position in shares of PACCAR in the 1st quarter valued at $29,000. Finally, Arlington Trust Co LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at $30,000. Institutional investors own 64.90% of the company’s stock.

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.