Brokerages Set PACCAR Inc (NASDAQ:PCAR) Target Price at $114.27

PACCAR Inc (NASDAQ:PCAR) has received a consensus rating of “Hold” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $114.27.

Several brokerages have recently issued reports on PCAR. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Citigroup initiated coverage on shares of PACCAR in a report on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price target for the company. Raymond James initiated coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Truist Financial cut their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of PACCAR in the 4th quarter worth approximately $448,288,000. Capital International Investors boosted its position in PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after acquiring an additional 1,095,894 shares during the period. Point72 Asset Management L.P. bought a new position in shares of PACCAR in the 4th quarter worth $87,441,000. Finally, Epoch Investment Partners Inc. boosted its position in PACCAR by 113.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock valued at $103,408,000 after purchasing an additional 562,571 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Up 1.8 %

Shares of PCAR stock opened at $93.28 on Friday. The stock has a fifty day simple moving average of $103.08 and a two-hundred day simple moving average of $108.53. PACCAR has a 52-week low of $80.94 and a 52-week high of $125.50. The firm has a market capitalization of $48.89 billion, a PE ratio of 9.68, a PEG ratio of 1.49 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, analysts predict that PACCAR will post 8.11 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.