PACCAR Inc (NASDAQ:PCAR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of PACCAR Inc (NASDAQ:PCAR) have received a consensus rating of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $114.00.

A number of brokerages have issued reports on PCAR. Truist Financial reduced their target price on PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI cut their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Raymond James initiated coverage on shares of PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating for the company.

Insider Transactions at PACCAR

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

Hedge Funds Weigh In On PACCAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Miracle Mile Advisors LLC boosted its stake in shares of PACCAR by 3.8% in the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after buying an additional 91 shares during the period. Security National Bank raised its position in PACCAR by 4.2% during the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after purchasing an additional 93 shares during the last quarter. Brookstone Capital Management raised its position in shares of PACCAR by 4.1% during the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after acquiring an additional 94 shares during the last quarter. CVA Family Office LLC lifted its position in shares of PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after purchasing an additional 97 shares during the period. Finally, Graypoint LLC boosted its position in PACCAR by 2.9% during the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after acquiring an additional 99 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 0.5 %

Shares of NASDAQ PCAR opened at $107.56 on Friday. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The firm has a market capitalization of $56.38 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company’s 50 day simple moving average is $97.84 and its 200 day simple moving average is $103.94.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same period last year, the company earned $2.33 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, analysts predict that PACCAR will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. PACCAR’s dividend payout ratio (DPR) is 12.45%.

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.