PACCAR (NASDAQ:PCAR) Receives “Hold” Rating from Truist Financial

Truist Financial reissued their hold rating on shares of PACCAR (NASDAQ:PCAR) in a research report sent to investors on Thursday morning, Benzinga reports. Truist Financial currently has a $121.00 price objective on the stock, up from their previous price objective of $117.00.

Several other brokerages have also recently issued reports on PCAR. TD Cowen lifted their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $140.00 to $130.00 and set an overweight rating for the company in a research note on Wednesday. Bank of America raised shares of PACCAR from an underperform rating to a neutral rating and raised their target price for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Evercore ISI upped their price target on PACCAR from $94.00 to $101.00 and gave the company an in-line rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group increased their price target on PACCAR from $106.00 to $121.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $112.62.

PACCAR Price Performance

PACCAR stock traded down $1.67 during midday trading on Thursday, reaching $104.79. The company had a trading volume of 3,899,161 shares, compared to its average volume of 2,813,976. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 2.21. PACCAR has a 12-month low of $68.40 and a 12-month high of $125.50. The company has a market capitalization of $54.91 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.63 and a beta of 0.96. The firm’s fifty day simple moving average is $116.42 and its 200-day simple moving average is $102.53.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter last year, the business posted $2.25 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that PACCAR will post 8.26 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is 11.20%.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of institutional investors have recently modified their holdings of PCAR. PSI Advisors LLC acquired a new position in shares of PACCAR in the first quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in PACCAR in the 3rd quarter valued at approximately $26,000. AdvisorNet Financial Inc boosted its position in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of PACCAR in the first quarter worth $27,000. Finally, Riverview Trust Co purchased a new stake in shares of PACCAR during the first quarter worth $29,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.