PACCAR Inc (NASDAQ:PCAR - Get Free Report) traded up 2.3% during trading on Thursday . The stock traded as high as $101.13 and last traded at $100.17. 483,456 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,604,765 shares. The stock had previously closed at $97.92.
Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. Truist Financial cut their price target on shares of PACCAR from $115.00 to $107.00 and set a "hold" rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Wednesday, July 24th. Raymond James began coverage on shares of PACCAR in a report on Friday, June 28th. They issued a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of PACCAR from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $112.73.
Check Out Our Latest Stock Analysis on PACCAR
The company has a market cap of $52.60 billion, a P/E ratio of 10.16, a PEG ratio of 1.52 and a beta of 0.91. The stock's 50 day moving average is $95.78 and its 200-day moving average is $105.20. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.
PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 EPS. Research analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, November 13th. PACCAR's payout ratio is 12.45%.
In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares of the company's stock, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.02% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in shares of PACCAR during the 2nd quarter valued at about $26,000. YHB Investment Advisors Inc. bought a new position in shares of PACCAR during the 1st quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR during the 1st quarter valued at approximately $27,000. Riverview Trust Co bought a new position in shares of PACCAR during the 1st quarter valued at approximately $29,000. Finally, Meeder Asset Management Inc. boosted its stake in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock worth $29,000 after purchasing an additional 205 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.
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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