PACCAR (NASDAQ:PCAR) Earns Hold Rating from Truist Financial

Truist Financial reiterated their hold rating on shares of PACCAR (NASDAQ:PCAR) in a research report released on Thursday, Benzinga reports. They currently have a $121.00 price target on the stock, up from their previous price target of $117.00.

A number of other analysts have also commented on the company. UBS Group raised PACCAR from a neutral rating to a buy rating and raised their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Morgan Stanley assumed coverage on shares of PACCAR in a report on Monday, January 8th. They set an overweight rating and a $125.00 target price on the stock. Bank of America upgraded shares of PACCAR from an underperform rating to a neutral rating and raised their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $140.00 to $130.00 and set an overweight rating for the company in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada initiated coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a sector perform rating and a $123.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $112.62.

PACCAR Stock Up 0.6 %

PCAR traded up $0.61 during mid-day trading on Thursday, reaching $105.40. 1,152,964 shares of the stock were exchanged, compared to its average volume of 2,440,161. The company has a 50 day moving average price of $116.42 and a two-hundred day moving average price of $102.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The stock has a market capitalization of $55.23 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. PACCAR has a 1 year low of $68.40 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 earnings per share. As a group, research analysts anticipate that PACCAR will post 8.26 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. PACCAR’s dividend payout ratio is 12.45%.

Insider Buying and Selling

In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

Hedge Funds Weigh In On PACCAR

A number of institutional investors have recently added to or reduced their stakes in the company. SPC Financial Inc. increased its position in shares of PACCAR by 1.3% in the first quarter. SPC Financial Inc. now owns 14,051 shares of the company’s stock worth $1,741,000 after purchasing an additional 176 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of PACCAR by 16.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,164 shares of the company’s stock valued at $144,000 after purchasing an additional 165 shares in the last quarter. Team Hewins LLC raised its position in shares of PACCAR by 2.6% during the first quarter. Team Hewins LLC now owns 4,707 shares of the company’s stock worth $583,000 after acquiring an additional 121 shares during the last quarter. Csenge Advisory Group bought a new position in shares of PACCAR during the first quarter worth about $275,000. Finally, Catalina Capital Group LLC bought a new position in shares of PACCAR during the first quarter worth about $226,000. 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.