PACCAR (NASDAQ:PCAR) Trading 0.4% Higher

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PCAR shares. Morgan Stanley started coverage on shares of PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, Evercore ISI lifted their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Eight research 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 stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus target price of $110.82.

PACCAR Stock Down 2.3 %

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 firm has a market cap of $58.26 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.71 and a beta of 0.92. The firm has a 50 day moving average price of $115.97 and a 200-day moving average price of $100.85.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 EPS. On average, equities analysts forecast that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In other news, SVP Kevin D. Baney sold 7,203 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $103.03, for a total transaction of $742,125.09. Following the completion of the sale, the senior vice president now owns 6,621 shares in the company, valued at approximately $682,161.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Kevin D. Baney sold 7,203 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $103.03, for a total transaction of $742,125.09. Following the completion of the sale, the senior vice president now owns 6,621 shares in the company, valued at approximately $682,161.63. 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 4,829 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $584,739.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACCAR

Hedge funds and other institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new position in PACCAR during the 3rd quarter worth approximately $26,000. AdvisorNet Financial Inc raised its position in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of PACCAR by 61.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of PACCAR during the 1st quarter valued at approximately $29,000. Finally, Arlington Trust Co LLC acquired a new stake in shares of PACCAR during the 3rd quarter valued at approximately $30,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.