Shares of PACCAR Inc (NASDAQ:PCAR - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $85.05 and last traded at $85.61, with a volume of 930498 shares trading hands. The stock had previously closed at $88.17.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on PCAR shares. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Truist Financial cut their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Finally, Evercore ISI cut their price target on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PACCAR presently has an average rating of "Hold" and a consensus target price of $108.59.
Check Out Our Latest Analysis on PCAR
PACCAR Price Performance
The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average price is $97.84 and its 200-day moving average price is $105.43. The company has a market capitalization of $47.98 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) 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%. Equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.
PACCAR Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's payout ratio is currently 16.69%.
Insider Activity
In other news, EVP Darrin C. Siver sold 103,671 shares of the firm's 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 transaction, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by insiders.
Hedge Funds Weigh In On PACCAR
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after acquiring an additional 178,813 shares during the last quarter. Morse Asset Management Inc acquired a new stake in PACCAR in the third quarter worth $370,000. McIlrath & Eck LLC boosted its position in shares of PACCAR by 16.0% during the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company's stock worth $2,769,000 after purchasing an additional 3,878 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at $419,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of PACCAR in the 3rd quarter valued at $269,000. Institutional investors own 64.90% of the company's stock.
About PACCAR
(
Get Free Report)
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.
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