PACCAR Inc (NASDAQ:PCAR) Receives $113.82 Average PT from Analysts

Shares of PACCAR Inc (NASDAQ:PCAR) have received a consensus rating of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $116.55.

A number of brokerages have weighed in on PCAR. Truist Financial upped their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th.

PACCAR Stock Performance

PCAR stock opened at $111.88 on Tuesday. The company has a market capitalization of $58.66 billion, a P/E ratio of 12.50, a PEG ratio of 1.76 and a beta of 0.89. The company has a 50-day simple moving average of $104.37 and a 200 day simple moving average of $102.81. PACCAR has a fifty-two week low of $90.04 and a fifty-two week 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.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results 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. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the company earned $2.34 EPS. PACCAR’s revenue was down 5.2% on a year-over-year basis. Sell-side analysts predict that PACCAR will post 7.98 earnings per share for the current fiscal 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 issued 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 is 13.41%.

Insider Activity

In related news, CEO R Preston Feight sold 27,191 shares of the 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 owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 in the last 90 days. Company insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds have recently added to or reduced their stakes in the company. Fortem Financial Group LLC bought a new stake in PACCAR during the third quarter worth approximately $797,000. Insight Inv LLC boosted its position in PACCAR by 1.1% during the third quarter. Insight Inv LLC now owns 15,552 shares of the company’s stock worth $1,535,000 after purchasing an additional 175 shares during the period. LRI Investments LLC boosted its position in PACCAR by 286.8% during the third quarter. LRI Investments LLC now owns 2,023 shares of the company’s stock worth $200,000 after purchasing an additional 1,500 shares during the period. Public Employees Retirement System of Ohio boosted its position in PACCAR by 2.7% during the third quarter. Public Employees Retirement System of Ohio now owns 278,304 shares of the company’s stock worth $27,463,000 after purchasing an additional 7,189 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in PACCAR by 8.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 175,826 shares of the company’s stock worth $17,351,000 after purchasing an additional 13,716 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

About PACCAR

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.