ValuEngine cut shares of PACCAR Inc. (NASDAQ:PCAR) from a buy rating to a hold rating in a research report report published on Tuesday.

Several other equities analysts also recently issued reports on the stock. BidaskClub downgraded shares of PACCAR from a sell rating to a strong sell rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded shares of PACCAR from a hold rating to a buy rating and set a $74.00 price objective for the company in a research note on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) upgraded shares of PACCAR from a neutral rating to a buy rating and set a $79.00 price objective for the company in a research note on Thursday, June 15th. Buckingham Research initiated coverage on shares of PACCAR in a research note on Tuesday, September 5th. They issued a neutral rating and a $65.00 price objective for the company. Finally, Citigroup Inc. upped their price objective on shares of PACCAR from $74.00 to $78.00 and gave the company a buy rating in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $74.58.

PACCAR (PCAR) opened at 73.42 on Tuesday. PACCAR has a 52 week low of $53.38 and a 52 week high of $74.79. The company has a 50-day moving average price of $69.30 and a 200-day moving average price of $66.65. The stock has a market cap of $25.80 billion, a price-to-earnings ratio of 19.65 and a beta of 1.18.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. PACCAR’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that PACCAR will post $4.02 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.36%. PACCAR’s dividend payout ratio is currently 26.74%.

In related news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.64% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in PACCAR by 381.5% during the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after purchasing an additional 2,038,761 shares in the last quarter. Brighton Jones LLC purchased a new position in PACCAR during the second quarter worth about $3,338,000. Delta Lloyd Asset Management N.V. purchased a new position in PACCAR during the second quarter worth about $3,038,000. Point72 Europe London LLP purchased a new position in PACCAR during the first quarter worth about $1,137,000. Finally, Perkins Coie Trust Co raised its holdings in PACCAR by 102.8% during the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after purchasing an additional 1,157 shares in the last quarter. 62.13% of the stock is owned by hedge funds and other institutional investors.

PACCAR Company Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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