PACCAR (NASDAQ:PCAR) Shares Up 4.7% – Here’s Why

PACCAR Inc (NASDAQ:PCAR) rose 4.7% during mid-day trading on Monday . The stock traded as high as $115.43 and last traded at $115.19. Approximately 1,289,226 shares were traded during trading, a decline of 48% from the average daily volume of 2,488,882 shares. The stock had previously closed at $110.06.

Analyst Upgrades and Downgrades

Several analysts have commented on PCAR shares. Truist Financial raised their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Finally, Evercore ISI lowered their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.77.

PACCAR Price Performance

The firm has a 50-day moving average of $107.42 and a 200-day moving average of $106.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a market capitalization of $54.96 billion, a P/E ratio of 13.24, a PEG ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 16.69%.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last three months. 2.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in PACCAR during the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR during the fourth quarter valued at approximately $37,000. Sunbelt Securities Inc. raised its position in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after acquiring an additional 350 shares during the period. Finally, OFI Invest Asset Management purchased a new position in shares of PACCAR during the 4th quarter worth $43,000. 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.