PACCAR (NASDAQ:PCAR) Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of PACCAR (NASDAQ:PCAR) from a sell rating to a hold rating in a report released on Friday morning.

Several other research firms have also commented on PCAR. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Truist Financial lowered their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered PACCAR from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. Finally, Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price for the company. in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $104.59.

PACCAR Trading Up 0.0%

PACCAR stock opened at $94.89 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR has a 12 month low of $84.65 and a 12 month high of $118.81. The stock’s 50 day simple moving average is $92.69 and its two-hundred day simple moving average is $99.73. The firm has a market cap of $49.81 billion, a PE ratio of 14.38, a P/E/G ratio of 3.51 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter in the prior year, the company posted $2.27 EPS. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. Analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Wednesday, May 14th. PACCAR’s payout ratio is 20.00%.

Insider Activity at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in PACCAR by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after purchasing an additional 1,113,520 shares during the last quarter. Wellington Management Group LLP raised its stake in PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after purchasing an additional 3,379,165 shares during the last quarter. Geode Capital Management LLC raised its stake in PACCAR by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock valued at $1,275,269,000 after purchasing an additional 362,637 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in PACCAR by 9.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock valued at $1,144,578,000 after purchasing an additional 987,805 shares during the last quarter. Finally, FMR LLC grew its holdings in PACCAR by 1.9% in the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after buying an additional 167,165 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

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.