PACCAR (NASDAQ:PCAR) Price Target Raised to $113.00

PACCAR (NASDAQ:PCAR) had its target price hoisted by Truist Financial from $112.00 to $113.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

PCAR has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their target price on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.32.

PACCAR Stock Performance

NASDAQ PCAR opened at $110.88 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $110.44 and a 200 day simple moving average of $104.55. PACCAR has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a market cap of $58.13 billion, a P/E ratio of 14.02, a PEG ratio of 2.83 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts predict that PACCAR will post 7.71 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 15.17%.

Insider Buying and Selling at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,871 shares of company stock valued at $14,586,333 over the last three months. 2.02% of the stock is currently owned by insiders.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning raised its position in shares of PACCAR by 7.5% in the second quarter. Creative Planning now owns 72,752 shares of the company’s stock worth $7,489,000 after buying an additional 5,073 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in PACCAR by 8.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 44,808 shares of the company’s stock worth $4,613,000 after acquiring an additional 3,622 shares during the last quarter. Quarry LP bought a new position in PACCAR in the 2nd quarter worth about $26,000. Sanctuary Advisors LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at about $2,703,000. Finally, Heritage Wealth Management Inc. bought a new stake in shares of PACCAR during the 2nd quarter valued at about $344,000. 64.90% of the stock is currently 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.