PACCAR Inc (NASDAQ:PCAR) Receives $117.83 Average Price Target from Brokerages

Shares of PACCAR Inc (NASDAQ:PCAR) have been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $118.25.

A number of research firms have weighed in on PCAR. Citigroup lifted their target price on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Monday. Truist Financial upped their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Finally, Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 in the last 90 days. 2.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after buying an additional 3,296,146 shares during the period. Dimensional Fund Advisors LP grew its position in shares of PACCAR by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after buying an additional 171,317 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of PACCAR by 5.9% during the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after acquiring an additional 242,435 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $114.83 on Friday. The company has a 50-day moving average price of $109.82 and a two-hundred day moving average price of $103.70. PACCAR has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $60.21 billion, a PE ratio of 12.83, a P/E/G ratio of 1.82 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for 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%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 earnings per share. Equities analysts forecast that PACCAR will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

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.