PACCAR Inc (NASDAQ:PCAR) Given Average Rating of “Hold” by Brokerages

PACCAR Inc (NASDAQ:PCAR) has been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $116.55.

Several research analysts recently commented on the company. Morgan Stanley reduced their target price 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 reduced their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial increased their price objective on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd.

Insider Activity

In related news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the business’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 transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Several institutional investors and hedge funds have recently modified their holdings of PCAR. Envestnet Portfolio Solutions Inc. lifted its stake in PACCAR by 18.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,353 shares of the company’s stock valued at $2,398,000 after acquiring an additional 2,989 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of PACCAR by 3.7% during the 1st quarter. Russell Investments Group Ltd. now owns 398,626 shares of the company’s stock worth $49,402,000 after purchasing an additional 14,312 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of PACCAR by 20.5% during the 1st quarter. ProShare Advisors LLC now owns 597,657 shares of the company’s stock worth $74,044,000 after purchasing an additional 101,522 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of PACCAR by 2.6% during the 1st quarter. Bleakley Financial Group LLC now owns 8,749 shares of the company’s stock worth $1,084,000 after purchasing an additional 222 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of PACCAR by 24.3% during the 1st quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock worth $319,218,000 after buying an additional 504,346 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Down 0.3 %

PCAR opened at $111.88 on Tuesday. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $58.66 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.76 and a beta of 0.89. The business has a 50 day moving average of $104.37 and a 200-day moving average of $102.81.

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 the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the prior 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. As a group, sell-side analysts anticipate that PACCAR will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid 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 1.07%. PACCAR’s dividend payout ratio (DPR) is presently 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.