Brokerages Set PACCAR Inc (NASDAQ:PCAR) Price Target at $107.23

Shares of PACCAR Inc (NASDAQ:PCAR) have been assigned an average rating of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $105.23.

Several equities research analysts recently weighed in on PCAR shares. Citigroup reduced their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Morgan Stanley downgraded shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a report on Wednesday, April 16th. Truist Financial dropped their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Evercore ISI decreased their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Friday.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $90.61 on Tuesday. The business has a fifty day simple moving average of $94.45 and a 200 day simple moving average of $104.21. 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 has a 1 year low of $84.65 and a 1 year high of $118.81. The firm has a market cap of $47.57 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company’s quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.27 EPS. As a group, sell-side analysts predict that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.46%. PACCAR’s dividend payout ratio is 20.00%.

Insider Activity

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Institutional Trading of PACCAR

Several hedge funds have recently modified their holdings of PCAR. Deutsche Bank AG lifted its holdings in PACCAR by 36.4% during the 1st quarter. Deutsche Bank AG now owns 2,723,460 shares of the company’s stock worth $265,183,000 after buying an additional 727,479 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in PACCAR by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,208,080 shares of the company’s stock worth $312,371,000 after purchasing an additional 58,684 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in PACCAR during the 1st quarter worth about $9,630,000. Citizens Financial Group Inc. RI lifted its position in PACCAR by 6.2% during the 1st quarter. Citizens Financial Group Inc. RI now owns 4,439 shares of the company’s stock valued at $432,000 after purchasing an additional 259 shares during the period. Finally, Leeward Financial Partners LLC boosted its stake in shares of PACCAR by 25.3% in the 1st quarter. Leeward Financial Partners LLC now owns 19,973 shares of the company’s stock valued at $1,945,000 after purchasing an additional 4,038 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

About PACCAR

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.