PACCAR (NASDAQ:PCAR) Trading Up 4.7% – Should You Buy?

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

PACCAR Stock Performance

The firm’s 50 day simple moving average is $107.42 and its 200 day simple moving average is $106.32. The firm has a market cap of $54.96 billion, a PE ratio of 13.24, a PEG ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued its earnings results 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%. On average, research analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

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

Insider Activity

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

Institutional Investors Weigh In On PACCAR

Several large investors have recently added to or reduced their stakes in PCAR. Everence Capital Management Inc. bought a new stake in shares of PACCAR in the 4th quarter valued at approximately $1,984,000. Cullen Frost Bankers Inc. lifted its position in PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after buying an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC lifted its position in PACCAR by 24.3% in the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. boosted its stake in PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after buying an additional 5,433 shares during the period. Finally, Insight Wealth Strategies LLC increased its position in PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

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.