Analysts Set PACCAR Inc. (NASDAQ:PCAR) Price Target at $107.68

PACCAR Inc. (NASDAQ:PCAR) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $107.6818.

PCAR has been the topic of several research reports. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Truist Financial decreased their target price on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Citigroup lifted their target price on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Finally, Evercore ISI set a $114.00 target price on shares of PACCAR and gave the stock an “outperform” rating in a research report on Tuesday, August 19th.

Insiders Place Their Bets

In other news, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On PACCAR

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in shares of PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Fidelis Capital Partners LLC raised its stake in shares of PACCAR by 2.9% during the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after acquiring an additional 105 shares during the last quarter. Intellectus Partners LLC raised its stake in shares of PACCAR by 1.0% during the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock valued at $1,015,000 after acquiring an additional 109 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of PACCAR by 33.1% during the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company’s stock valued at $45,000 after buying an additional 116 shares during the period. Finally, Focus Partners Advisor Solutions LLC increased its position in shares of PACCAR by 1.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock valued at $917,000 after buying an additional 116 shares during the period. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Performance

PACCAR stock opened at $102.51 on Monday. The firm’s fifty day moving average price is $98.48 and its 200-day moving average price is $96.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The stock has a market cap of $53.83 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 4.12 and a beta of 0.94. PACCAR has a fifty-two week low of $84.65 and a fifty-two week high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the company posted $2.13 EPS. On average, equities research analysts expect that PACCAR will post 7.57 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 3rd. Investors of record on Wednesday, November 12th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

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.