PACCAR (NASDAQ:PCAR) Sets New 1-Year Low – Time to Sell?

PACCAR Inc (NASDAQ:PCAR)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $85.05 and last traded at $85.61, with a volume of 930498 shares traded. The stock had previously closed at $88.17.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCAR. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. Truist Financial dropped their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Evercore ISI lowered their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup cut their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $108.59.

PACCAR Price Performance

The company has a market capitalization of $45.39 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 2.77 and a beta of 0.96. The firm has a 50-day simple moving average of $99.09 and a two-hundred day simple moving average of $105.84. 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 announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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, analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.53%. PACCAR’s dividend payout ratio is 16.69%.

Insider Activity at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred 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 directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On PACCAR

A number of large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the fourth quarter worth approximately $37,000. Sunbelt Securities Inc. raised its stake in 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 purchasing an additional 350 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in PACCAR in the 4th quarter valued at $43,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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.