PACCAR Inc (NASDAQ:PCAR) Receives Average Rating of “Moderate Buy” from Analysts

PACCAR Inc (NASDAQ:PCAR) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $118.23.

PCAR has been the topic of several recent analyst reports. Evercore ISI reduced their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius Research upgraded PACCAR to a “strong-buy” rating in a report on Tuesday. Finally, UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $124.00 to $108.00 in a report on Tuesday.

PACCAR Trading Down 1.2 %

Shares of PCAR stock opened at $97.11 on Monday. 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 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock’s 50 day simple moving average is $106.29 and its two-hundred day simple moving average is $106.40. The company has a market cap of $50.96 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Research analysts predict that PACCAR will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

Institutional Trading of PACCAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of PACCAR during the 4th quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR in the 4th quarter valued at about $37,000. Sunbelt Securities Inc. lifted its holdings in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after buying an additional 350 shares during the period. Finally, OFI Invest Asset Management acquired a new position in shares of PACCAR in the 4th quarter valued at about $43,000. 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.