PACCAR (NASDAQ:PCAR) Shares Down 0.1%

PACCAR Inc (NASDAQ:PCAR - Get Free Report)'s share price fell 0.1% during mid-day trading on Thursday . The company traded as low as $117.70 and last traded at $118.54. 208,063 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,275,990 shares. The stock had previously closed at $118.69.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCAR. UBS Group raised shares of PACCAR from a "neutral" rating to a "buy" rating and boosted their target price for the company from $104.00 to $136.00 in a research report on Friday, March 15th. JPMorgan Chase & Co. boosted their price target on PACCAR from $116.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, March 5th. Bank of America raised PACCAR from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. TD Cowen boosted their price target on PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a research note on Wednesday, January 24th. Finally, Truist Financial initiated coverage on PACCAR in a research note on Thursday, March 14th. They issued a "hold" rating and a $117.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PACCAR has an average rating of "Moderate Buy" and a consensus target price of $109.39.

PACCAR Price Performance

The firm has a market capitalization of $62.29 billion, a P/E ratio of 13.56, a PEG ratio of 1.85 and a beta of 0.92. The company has a fifty day moving average of $114.30 and a 200 day moving average of $99.43. 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 posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion for 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 company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 EPS. Sell-side analysts predict that PACCAR Inc will post 8.16 earnings per share 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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR's payout ratio is 12.31%.

Insider Transactions at PACCAR

In other news, Chairman Mark C. Pigott sold 74,347 shares of the company's 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 transaction, the chairman now directly owns 4,843,277 shares of the company's stock, valued at $493,675,224.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Mark C. Pigott sold 74,347 shares of the company's 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 transaction, the chairman now directly owns 4,843,277 shares of the company's stock, valued at $493,675,224.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock valued at $15,834,812 over the last ninety days. 2.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

A number of institutional investors and hedge funds have recently bought and sold shares of PCAR. OFI Invest Asset Management purchased a new stake in PACCAR in the 3rd quarter valued at $26,000. AdvisorNet Financial Inc increased 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 purchasing an additional 181 shares during the last quarter. ST Germain D J Co. Inc. increased 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 purchasing an additional 130 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in shares of PACCAR during the 3rd quarter valued at $30,000. Finally, Rise Advisors LLC purchased a new stake in shares of PACCAR during the 1st quarter valued at $31,000. 64.90% of the stock is 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.