PACCAR Inc. (NASDAQ:PCAR) Receives $116.50 Average Target Price from Analysts

Shares of PACCAR Inc. (NASDAQ:PCAR) have been given an average recommendation of “Hold” by the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $116.50.

PCAR has been the subject of several recent research reports. Citigroup boosted their target price on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Sanford C. Bernstein set a $138.00 price objective on PACCAR and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st.

Insiders Place Their Bets

In other news, VP Paulo Henrique Bolgar sold 12,183 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the transaction, the vice president directly owned 6,274 shares of the company’s stock, valued at $768,125.82. This represents a 66.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $123.99, for a total value of $272,778.00. Following the sale, the chief financial officer directly owned 903 shares of the company’s stock, valued at $111,962.97. The trade was a 70.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 130,905 shares of company stock worth $16,582,144 in the last ninety days. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several large investors have recently made changes to their positions in the business. Norges Bank bought a new position in PACCAR during the second quarter valued at about $472,520,000. UBS Group AG grew its position in shares of PACCAR by 74.4% during the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after acquiring an additional 1,940,260 shares during the period. Pacer Advisors Inc. grew its position in shares of PACCAR by 2,389.2% during the 3rd quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock valued at $197,705,000 after acquiring an additional 1,930,056 shares during the period. American Century Companies Inc. increased its stake in shares of PACCAR by 235.9% during the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after purchasing an additional 1,784,236 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $127.35 on Thursday. PACCAR has a twelve month low of $84.65 and a twelve month high of $131.88. The stock’s 50 day moving average is $116.12 and its 200-day moving average is $104.88. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $66.88 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.07 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter last year, the firm posted $1.66 EPS. PACCAR’s revenue was down 15.1% compared to the same quarter last year. Sell-side analysts forecast that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is presently 29.27%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.