PACCAR (NASDAQ:PCAR) Price Target Raised to $112.00

PACCAR (NASDAQ:PCAR) had its target price hoisted by Truist Financial from $110.00 to $112.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts also recently commented on PCAR. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Morgan Stanley lowered their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup reduced their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PACCAR presently has an average rating of “Hold” and an average target price of $120.13.

PACCAR Trading Up 0.8 %

Shares of NASDAQ PCAR opened at $110.33 on Thursday. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The business’s 50 day moving average is $111.10 and its two-hundred day moving average is $104.03. The stock has a market capitalization of $57.85 billion, a P/E ratio of 12.33, a PEG ratio of 1.72 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 EPS. As a group, research analysts expect that PACCAR will post 7.92 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Activity

In related news, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 over the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new position in PACCAR in the 2nd quarter worth about $26,000. Grove Bank & Trust raised its stake in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after buying an additional 103 shares during the period. Sander Capital Advisors Inc. purchased a new position in shares of PACCAR during the 3rd quarter valued at approximately $50,000. Ashton Thomas Securities LLC acquired a new stake in PACCAR in the 3rd quarter valued at $52,000. Finally, AdvisorNet Financial Inc increased its holdings in PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after acquiring an additional 391 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

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.