PACCAR (NASDAQ:PCAR) Price Target Raised to $107.00

PACCAR (NASDAQ:PCAR) had its target price raised by Truist Financial from $103.00 to $107.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also issued reports on PCAR. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Citigroup raised their price objective on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $114.18.

PACCAR Stock Up 1.0 %

Shares of NASDAQ:PCAR opened at $105.90 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.91 and a quick ratio of 2.54. The stock has a market cap of $55.51 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.62 and a beta of 0.91. The company has a 50 day moving average of $99.18 and a 200-day moving average of $103.42. PACCAR has a one year low of $80.94 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the prior year, the business posted $2.34 EPS. PACCAR’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts forecast that PACCAR will post 8.07 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. PACCAR’s payout ratio is 12.45%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PACCAR

A number of hedge funds have recently made changes to their positions in the stock. Miracle Mile Advisors LLC lifted its stake in PACCAR by 3.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after purchasing an additional 91 shares during the last quarter. Security National Bank grew its position in PACCAR by 4.2% during the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after acquiring an additional 93 shares during the last quarter. Brookstone Capital Management raised its position in PACCAR by 4.1% in the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after purchasing an additional 94 shares during the last quarter. CVA Family Office LLC boosted its stake in shares of PACCAR by 13.3% during the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after purchasing an additional 97 shares in the last quarter. Finally, Graypoint LLC grew its holdings in shares of PACCAR by 2.9% during the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock worth $441,000 after purchasing an additional 99 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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.