PACCAR (NASDAQ:PCAR) Stock Price Down 3.2%

Shares of PACCAR Inc (NASDAQ:PCAR - Get Free Report) dropped 3.2% on Tuesday . The company traded as low as $117.82 and last traded at $118.54. Approximately 519,711 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 2,273,485 shares. The stock had previously closed at $122.51.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of research analyst reports. TD Cowen lifted their target price on PACCAR from $91.00 to $108.00 and gave the stock a "market perform" rating in a report on Wednesday, January 24th. The Goldman Sachs Group lifted their target price on PACCAR from $93.00 to $106.00 and gave the stock a "neutral" rating in a report on Wednesday, January 24th. Evercore ISI lifted their target price on PACCAR from $94.00 to $101.00 and gave the stock an "in-line" rating in a report on Tuesday, February 20th. Royal Bank of Canada initiated coverage on PACCAR in a report on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 target price for the company. Finally, Morgan Stanley initiated coverage on PACCAR in a report on Monday, January 8th. They issued an "overweight" rating and a $125.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $109.39.

PACCAR Price Performance

The company has a fifty day moving average of $113.94 and a 200-day moving average of $99.29. The firm has a market cap of $62.45 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.85 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly 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. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. PACCAR's revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors 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 0.91%. PACCAR's dividend payout ratio (DPR) is currently 12.31%.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 5,000 shares of the company's stock in a transaction on 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 sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the business's stock in a transaction on Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the transaction, the chief financial officer now owns 103,547 shares of the company's stock, valued at $10,589,751.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin D. Baney sold 7,203 shares of the business's stock in a transaction on Friday, January 26th. The stock was sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the transaction, the senior vice president now directly owns 6,621 shares in the company, valued at approximately $682,161.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PCAR. Morningstar Investment Management LLC lifted its position in shares of PACCAR by 1.3% during the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company's stock valued at $740,000 after buying an additional 97 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of PACCAR by 3.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company's stock valued at $315,000 after buying an additional 100 shares during the last quarter. FORVIS Wealth Advisors LLC lifted its position in shares of PACCAR by 0.5% during the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company's stock valued at $2,158,000 after buying an additional 109 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of PACCAR by 2.9% during the 4th quarter. Jacobi Capital Management LLC now owns 4,288 shares of the company's stock valued at $419,000 after buying an additional 121 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its position in shares of PACCAR by 0.9% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company's stock valued at $1,231,000 after buying an additional 124 shares during the last quarter. Hedge funds and other 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.