Analysts Set PACCAR Inc (NASDAQ:PCAR) Price Target at $113.82

PACCAR Inc (NASDAQ:PCAR) has been given a consensus recommendation of “Hold” by the thirteen analysts that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $116.55.

Several research firms recently commented on PCAR. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their target price for the company from $99.00 to $129.00 in a research note on Wednesday. Morgan Stanley cut their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Truist Financial upped their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $112.26 on Tuesday. The stock has a market cap of $58.86 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50. The stock’s 50 day moving average price is $104.03 and its 200 day moving average price is $102.82.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the business earned $2.34 earnings per share. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that PACCAR will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is presently 13.41%.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of PACCAR in the 2nd quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new position in PACCAR during the 1st quarter valued at $27,000. Meeder Asset Management Inc. lifted its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of PACCAR in the 2nd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC lifted its position in PACCAR by 200.0% in the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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.