PACCAR (NASDAQ:PCAR) Trading Up 4.7% – Still a Buy?

PACCAR Inc (NASDAQ:PCAR)’s share price shot up 4.7% on Monday . The stock traded as high as $115.43 and last traded at $115.19. 1,289,226 shares changed hands during trading, a decline of 48% from the average session volume of 2,488,882 shares. The stock had previously closed at $110.06.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PCAR. Truist Financial upped their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Citigroup cut their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

PACCAR Trading Up 0.4 %

The firm has a market cap of $57.96 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. 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 business has a 50 day moving average price of $107.27 and a 200-day moving average price of $106.16.

PACCAR (NASDAQ:PCAR) last issued 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 net margin of 12.36% and a return on equity of 23.53%. As a group, research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 in the last 90 days. 2.02% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after buying an additional 178,813 shares during the last quarter. SpiderRock Advisors LLC boosted its stake in PACCAR by 14.2% in the third quarter. SpiderRock Advisors LLC now owns 29,275 shares of the company’s stock valued at $2,889,000 after acquiring an additional 3,638 shares during the period. Assetmark Inc. grew its holdings in shares of PACCAR by 1.9% during the third quarter. Assetmark Inc. now owns 338,568 shares of the company’s stock valued at $33,410,000 after purchasing an additional 6,180 shares during the last quarter. Covestor Ltd raised its position in shares of PACCAR by 24.7% during the 3rd quarter. Covestor Ltd now owns 1,604 shares of the company’s stock worth $158,000 after purchasing an additional 318 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of PACCAR in the 3rd quarter worth approximately $52,000. Institutional investors own 64.90% of the company’s stock.

About PACCAR

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.