PACCAR (NASDAQ:PCAR) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of PACCAR (NASDAQ:PCAR) in a research note published on Tuesday morning, Marketbeat.com reports. The firm issued a sector perform rating and a $123.00 target price on the stock.

A number of other brokerages have also weighed in on PCAR. Evercore ISI increased their target price on PACCAR from $94.00 to $101.00 and gave the stock an in-line rating in a research note on Tuesday, February 20th. TD Cowen raised their price objective on PACCAR from $91.00 to $108.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th. Truist Financial assumed coverage on PACCAR in a report on Thursday, March 14th. They issued a hold rating and a $117.00 price objective for the company. Morgan Stanley assumed coverage on shares of PACCAR in a research report on Monday, January 8th. They set an overweight rating and a $125.00 price objective for the company. Finally, UBS Group raised shares of PACCAR from a neutral rating to a buy rating and upped their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $109.39.

PACCAR Price Performance

NASDAQ:PCAR opened at $123.89 on Tuesday. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average price is $109.94 and its two-hundred day moving average price is $96.87. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.92 and a beta of 0.91. PACCAR has a 12-month low of $67.48 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.45. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 earnings per share. On average, analysts anticipate that PACCAR will post 8.13 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $584,739.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Harrie Schippers sold 5,000 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock valued at $15,834,812 over the last quarter. 2.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On PACCAR

A number of institutional investors and hedge funds have recently modified their holdings of PCAR. Vanguard Group Inc. lifted its holdings in shares of PACCAR by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after purchasing an additional 698,784 shares in the last quarter. State Street Corp increased its position in shares of PACCAR by 49.0% during the 1st quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after purchasing an additional 7,020,923 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PACCAR by 53.3% during the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after purchasing an additional 4,082,677 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of PACCAR by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after purchasing an additional 23,865 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of PACCAR by 6.0% during the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after purchasing an additional 316,001 shares during the last quarter. 64.90% of the stock is currently 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.