Shares of PACCAR Inc. (NASDAQ:PCAR – Get Free Report) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $131.50.
A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on PACCAR from $164.00 to $142.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Royal Bank Of Canada upgraded PACCAR from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $150.00 in a research report on Thursday, September 10th. Truist Financial set a $125.00 price target on PACCAR and gave the stock a “hold” rating in a research note on Monday, October 5th. Citigroup decreased their price target on PACCAR from $140.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Jefferies Financial Group lifted their price target on PACCAR from $120.00 to $140.00 and gave the company a “hold” rating in a report on Wednesday, July 29th.
Insider Activity at PACCAR
In related news, CEO R Feight sold 50,975 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 56,842 shares of company stock valued at $7,565,677. Insiders own 1.99% of the company’s stock.
Hedge Funds Weigh In On PACCAR
Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of PACCAR by 28.0% in the 3rd quarter. GAMMA Investing LLC now owns 17,454 shares of the company’s stock worth $1,917,000 after purchasing an additional 3,818 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of PACCAR by 1.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 17,908 shares of the company’s stock worth $1,966,000 after purchasing an additional 262 shares during the period. Apella Capital LLC grew its holdings in shares of PACCAR by 5.2% during the 3rd quarter. Apella Capital LLC now owns 8,668 shares of the company’s stock worth $926,000 after purchasing an additional 425 shares during the period. Valeo Financial Advisors LLC increased its position in PACCAR by 8.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 4,760 shares of the company’s stock worth $523,000 after purchasing an additional 354 shares in the last quarter. Finally, Plan A Wealth LLC increased its position in PACCAR by 6.5% during the 3rd quarter. Plan A Wealth LLC now owns 2,083 shares of the company’s stock worth $229,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.
PACCAR Trading Up 0.1%
Shares of PCAR opened at $108.13 on Tuesday. The stock has a fifty day moving average of $121.47 and a two-hundred day moving average of $120.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The company has a market capitalization of $56.92 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.24 and a beta of 0.98. PACCAR has a fifty-two week low of $92.25 and a fifty-two week high of $139.24.
PACCAR (NASDAQ:PCAR – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the company posted $1.37 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts forecast that PACCAR will post 5.91 EPS for the current year.
PACCAR Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 10th. PACCAR’s dividend payout ratio is presently 29.41%.
About PACCAR
PACCAR Inc is a global manufacturer of heavy-duty trucks and related transportation products. The company designs, develops and markets trucks under the Kenworth, Peterbilt and DAF brands, serving the long-haul, construction, vocational and distribution markets.
In addition to complete trucks, PACCAR provides diesel and electric powertrains, engines, parts and related aftermarket services. Its PACCAR Parts business distributes replacement parts and accessories through a network of distribution centers and dealerships, while PACCAR Financial offers retail and wholesale financing and leasing services to customers and dealers.
Founded in 1905, PACCAR has grown from a regional equipment manufacturer into an international transportation company.
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