PACCAR Inc. (NASDAQ:PCAR) Given Average Recommendation of “Hold” by Brokerages

Shares of PACCAR Inc. (NASDAQ:PCAR) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $122.00.

Several equities research analysts have issued reports on the company. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Truist Financial upped their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. BNP Paribas Exane started coverage on shares of PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective on the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th.

Institutional Investors Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently modified their holdings of PCAR. Brighton Jones LLC lifted its holdings in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after buying an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of PACCAR by 2.3% during the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after buying an additional 5,327 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of PACCAR by 11.5% during the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of PACCAR during the second quarter worth $81,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $118.52 on Wednesday. The company has a market cap of $62.38 billion, a PE ratio of 25.22, a PEG ratio of 1.10 and a beta of 0.98. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR has a 12 month low of $90.05 and a 12 month high of $131.88. The stock has a 50 day moving average of $117.65 and a 200-day moving average of $117.59.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. On average, equities research analysts anticipate that PACCAR will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.35 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, May 13th. PACCAR’s dividend payout ratio is presently 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.