Brokerages Set PACCAR Inc (NASDAQ:PCAR) PT at $114.00

PACCAR Inc (NASDAQ:PCAR) has earned an average rating of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $114.00.

Several analysts have recently issued reports on the stock. Raymond James assumed coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Truist Financial lowered their price objective on shares of PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th.

PACCAR Stock Down 4.4 %

PCAR stock opened at $104.79 on Friday. The stock has a market capitalization of $54.93 billion, a P/E ratio of 11.10, a PEG ratio of 1.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. PACCAR has a one year low of $80.94 and a one year high of $125.50. The company has a 50 day moving average price of $98.78 and a two-hundred day moving average price of $103.41.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 earnings per share. As a group, sell-side analysts expect that PACCAR will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.15%. PACCAR’s dividend payout ratio is currently 12.71%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PACCAR

Institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of PACCAR in the 2nd quarter valued at about $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR in the 1st quarter valued at about $27,000. Riverview Trust Co acquired a new stake in shares of PACCAR in the 1st quarter valued at about $29,000. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of PACCAR in the 1st quarter valued at about $31,000. 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.