PACCAR Inc. (NASDAQ:PCAR) Stock Rated “Hold” by Sell-Side Brokerages

PACCAR Inc. (NASDAQ:PCAR) has received a consensus rating of “Hold” from the seventeen research firms that are currently covering the stock, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $131.50.

Several brokerages have recently weighed in on PCAR. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $164.00 to $142.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Evercore lifted their target price on shares of PACCAR from $139.00 to $162.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. Citigroup reduced their target price on shares of PACCAR from $140.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, October 12th. Truist Financial set a $125.00 price target on shares of PACCAR and gave the company a “hold” rating in a research note on Monday, October 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th.

Insider Transactions at PACCAR

In related news, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the sale, the chief financial officer directly owned 1,391 shares in the company, valued at $184,307.50. The trade was a 58.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Feight sold 50,975 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the transaction, the chief executive officer directly owned 268,625 shares in the company, valued at approximately $35,745,928.75. This represents a 15.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 over the last three months. Company insiders own 1.99% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ancora Advisors LLC bought a new position in shares of PACCAR in the 2nd quarter valued at $16,286,000. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of PACCAR during the 1st quarter valued at $9,273,000. Mengis Capital Management Inc. boosted its holdings in shares of PACCAR by 16.1% during the 4th quarter. Mengis Capital Management Inc. now owns 111,486 shares of the company’s stock valued at $12,209,000 after acquiring an additional 15,440 shares in the last quarter. Saudi Central Bank grew its position in PACCAR by 90.0% during the 2nd quarter. Saudi Central Bank now owns 36,838 shares of the company’s stock worth $4,425,000 after acquiring an additional 17,452 shares during the last quarter. Finally, Nykredit A S bought a new stake in PACCAR during the 2nd quarter worth $17,672,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 0.0%

PCAR stock opened at $110.82 on Tuesday. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $58.33 billion, a PE ratio of 23.28, a PEG ratio of 1.27 and a beta of 0.98. PACCAR has a 1-year low of $93.19 and a 1-year high of $139.24. The business’s 50 day simple moving average is $119.55 and its 200 day simple moving average is $120.47.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the business earned $1.37 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts anticipate that PACCAR will post 5.91 EPS for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. PACCAR’s dividend payout ratio is presently 29.41%.

About PACCAR

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.