PACCAR (NASDAQ:PCAR) Reaches New 12-Month Low – Here’s What Happened

Shares of PACCAR Inc (NASDAQ:PCAR) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $90.03 and last traded at $90.66, with a volume of 8649 shares traded. The stock had previously closed at $92.36.

Analyst Ratings Changes

PCAR has been the topic of a number of research analyst reports. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. UBS Group cut shares of PACCAR from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $124.00 to $108.00 in a research report on Tuesday, March 18th. Finally, Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.54.

PACCAR Stock Performance

The firm has a market capitalization of $47.71 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a 50-day moving average price of $103.74 and a two-hundred day moving average price of $106.63.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is currently 16.69%.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 over the last quarter. 2.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its position in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR during the fourth quarter valued at about $37,000. Sunbelt Securities Inc. boosted its holdings in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after buying an additional 350 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of PACCAR in the 4th quarter worth approximately $37,000. Finally, Atala Financial Inc bought a new position in shares of PACCAR during the 4th quarter worth approximately $43,000. 64.90% of the stock is owned by 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.