PACCAR’s (PCAR) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of PACCAR (NASDAQ:PCAR) in a research note released on Monday, Benzinga reports. Royal Bank of Canada currently has a $119.00 price target on the stock.

Several other research analysts also recently weighed in on PCAR. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup lifted their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Evercore ISI reduced their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.82.

PACCAR Price Performance

PCAR stock opened at $116.01 on Monday. 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 firm has a market capitalization of $60.82 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.64 and a beta of 0.89. The business’s 50-day moving average is $101.21 and its two-hundred day moving average is $102.66. PACCAR has a 1 year low of $85.14 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data 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 business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts anticipate that PACCAR will post 8 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. 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 this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. 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 this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last three months. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCAR. Norden Group LLC acquired a new stake in shares of PACCAR during the 1st quarter valued at $307,000. Janney Montgomery Scott LLC lifted its position in shares of PACCAR by 2.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 51,853 shares of the company’s stock valued at $6,424,000 after acquiring an additional 1,119 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of PACCAR by 1.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,892 shares of the company’s stock valued at $854,000 after acquiring an additional 108 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of PACCAR during the 1st quarter valued at $117,000. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of PACCAR during the 1st quarter valued at $300,000. 64.90% of the stock is owned by institutional investors.

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.