PACCAR (NASDAQ:PCAR) Shares Down 0.6%

PACCAR Inc (NASDAQ:PCAR - Get Free Report) shares traded down 0.6% during trading on Wednesday . The company traded as low as $116.55 and last traded at $118.51. 570,769 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,279,041 shares. The stock had previously closed at $119.18.

Analyst Ratings Changes

A number of analysts recently issued reports on PCAR shares. Evercore ISI increased their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an "in-line" rating in a report on Tuesday, February 20th. UBS Group upgraded PACCAR from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $116.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. Truist Financial initiated coverage on shares of PACCAR in a research report on Thursday, March 14th. They issued a "hold" rating and a $117.00 target price on the stock. Finally, Bank of America upgraded PACCAR from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, PACCAR currently has an average rating of "Moderate Buy" and a consensus price target of $109.39.

PACCAR Stock Performance

The stock has a 50 day simple moving average of $113.94 and a two-hundred day simple moving average of $99.29. The company has a market capitalization of $62.19 billion, a price-to-earnings ratio of 13.54, a PEG 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 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. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that PACCAR Inc will post 8.16 earnings per share 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 paid a dividend of $0.27 per share. 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 0.91%. PACCAR's dividend payout ratio (DPR) is 12.31%.

Insider Activity

In other news, VP Todd R. Hubbard sold 4,829 shares of the company's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares of the company's stock, valued at approximately $584,739.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Todd R. Hubbard sold 4,829 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction 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 sale was disclosed in a filing 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 shares were 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 of the company's stock, valued at $682,161.63. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock valued at $15,834,812 in the last three months. 2.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PACCAR

Several institutional investors and hedge funds have recently made changes to their positions in PCAR. State Street Corp lifted its holdings in PACCAR by 49.0% in the 1st quarter. State Street Corp now owns 21,345,321 shares of the company's stock valued at $1,562,477,000 after purchasing an additional 7,020,923 shares in the last quarter. Norges Bank acquired a new position in PACCAR in the 4th quarter valued at $448,288,000. Geode Capital Management LLC lifted its stake in shares of PACCAR by 53.3% during the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company's stock worth $858,948,000 after purchasing an additional 4,082,677 shares during the period. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 249.2% during the first quarter. Wellington Management Group LLP now owns 3,845,387 shares of the company's stock worth $338,663,000 after purchasing an additional 2,744,040 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of PACCAR by 2,578.2% in the first quarter. Mercer Global Advisors Inc. ADV now owns 2,292,972 shares of the company's stock valued at $167,846,000 after purchasing an additional 2,207,357 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

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.