PACCAR (NASDAQ:PCAR) Shares Gap Down – Should You Sell?

PACCAR Inc (NASDAQ:PCAR) gapped down before the market opened on Thursday . The stock had previously closed at $102.33, but opened at $97.41. PACCAR shares last traded at $99.26, with a volume of 912,829 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on PCAR shares. Citigroup cut their target price 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. Evercore ISI cut their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Finally, Bank of America raised 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 research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Price Performance

The business’s 50-day simple moving average is $107.39 and its two-hundred day simple moving average is $106.29. The stock has a market cap of $52.05 billion, a P/E ratio of 12.53, 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.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS 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%. Sell-side analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

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

Insiders Place Their Bets

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $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. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last quarter. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Several hedge funds and other institutional investors have recently bought and sold shares of PCAR. Everence Capital Management Inc. purchased a new stake in PACCAR in the 4th quarter worth $1,984,000. Cullen Frost Bankers Inc. grew its stake in shares of PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after buying an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC increased its stake in PACCAR by 24.3% during the 3rd 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 period. Mengis Capital Management Inc. boosted its stake in shares of PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after buying an additional 5,433 shares during the period. Finally, Insight Wealth Strategies LLC grew its stake in shares of PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

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.