PACCAR (NASDAQ:PCAR) Stock Gets Price Target Trim from Truist Financial

PACCAR (NASDAQ:PCAR) had its target price cut by Truist Financial from $125.00 to $124.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

PCAR has been the topic of a number of other research reports. Royal Bank Of Canada upgraded shares of PACCAR from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $130.00 to $150.00 in a research note on Thursday, September 10th. BNP Paribas Exane reduced their price objective on shares of PACCAR from $136.00 to $107.00 and set a “neutral” rating for the company in a research note on Tuesday, October 6th. Jefferies Financial Group lifted their target price on shares of PACCAR from $120.00 to $140.00 and gave the stock a “hold” rating in a report on Wednesday, July 29th. Citigroup dropped their target price on shares of PACCAR from $140.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus target price of $132.96.

PACCAR Stock Down 0.4%

Shares of NASDAQ:PCAR opened at $101.91 on Wednesday. The stock has a fifty day simple moving average of $114.82 and a two-hundred day simple moving average of $120.15. The stock has a market capitalization of $53.64 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.26 and a beta of 0.98. PACCAR has a 12-month low of $93.86 and a 12-month high of $139.24. The company has a current ratio of 3.22, a quick ratio of 2.90 and a debt-to-equity ratio of 0.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 27th. The company reported $1.61 EPS for the quarter, hitting analysts’ consensus estimates of $1.61. PACCAR had a return on equity of 13.76% and a net margin of 9.50%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $7.48 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was up 20.8% on a year-over-year basis. On average, research analysts anticipate that PACCAR will post 5.84 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR’s payout ratio is presently 26.67%.

Institutional Investors Weigh In On PACCAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCAR. Ascent Group LLC raised its holdings in shares of PACCAR by 16.1% in the third quarter. Ascent Group LLC now owns 3,768 shares of the company’s stock worth $414,000 after buying an additional 523 shares during the last quarter. Rakuten Investment Management Inc. lifted its stake in shares of PACCAR by 10.5% during the third quarter. Rakuten Investment Management Inc. now owns 140,132 shares of the company’s stock worth $15,667,000 after buying an additional 13,334 shares during the period. Provenance Wealth Advisors LLC lifted its position in PACCAR by 141.9% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 537 shares of the company’s stock worth $59,000 after acquiring an additional 315 shares during the period. Summa Corp. purchased a new stake in PACCAR during the 3rd quarter valued at about $240,000. Finally, One Way Holdings LLC increased its holdings in shares of PACCAR by 10.7% in the third quarter. One Way Holdings LLC now owns 4,523 shares of the company’s stock valued at $497,000 after purchasing an additional 438 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.