PACCAR (NASDAQ:PCAR) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group cut shares of PACCAR (NASDAQ:PCAR) from a buy rating to a hold rating in a research note published on Friday, MarketBeat Ratings reports. Jefferies Financial Group currently has $120.00 price objective on the stock.

A number of other research firms have also recently issued reports on PCAR. Truist Financial increased their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Citigroup increased their price objective on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Finally, Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus target price of $117.83.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $115.88 on Friday. The company’s 50 day simple moving average is $109.50 and its 200 day simple moving average is $103.66. The stock has a market capitalization of $60.76 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.86 and a beta of 0.91. 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 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 earnings per share. As a group, research analysts predict that PACCAR will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.04%. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Buying and Selling at PACCAR

In other news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 in the company, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock worth $6,358,552. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Security National Bank boosted its holdings in PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after buying an additional 93 shares during the period. Brookstone Capital Management boosted its holdings in PACCAR by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after buying an additional 94 shares during the period. CVA Family Office LLC boosted its holdings in 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 buying an additional 97 shares during the period. Omnia Family Wealth LLC boosted its holdings in PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after buying an additional 98 shares during the period. Finally, Grove Bank & Trust boosted its holdings in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after buying an additional 103 shares during the period. 64.90% of the stock is owned by institutional investors.

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.