PACCAR Inc (NASDAQ:PCAR) Receives $118.50 Average Price Target from Brokerages

PACCAR Inc (NASDAQ:PCAR) has received a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $118.50.

PCAR has been the topic of a number of recent analyst reports. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial increased their price objective on PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Citigroup lifted their price objective on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, December 9th.

Insider Buying and Selling

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at $761,947. The trade was a 58.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,315 shares of company stock worth $6,358,552. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CVA Family Office LLC raised its holdings in PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after purchasing an additional 97 shares in the last quarter. Omnia Family Wealth LLC increased its stake in shares of PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after acquiring an additional 98 shares in the last quarter. Grove Bank & Trust boosted its stake in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares in the last quarter. Insight Wealth Partners LLC increased its stake in shares of PACCAR by 1.4% during the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after purchasing an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of PACCAR by 17.6% during the second quarter. EverSource Wealth Advisors LLC now owns 728 shares of the company’s stock valued at $72,000 after purchasing an additional 109 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $104.90 on Wednesday. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market cap of $55.00 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. The stock’s fifty day simple moving average is $111.00 and its two-hundred day simple moving average is $103.82.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. As a group, analysts forecast that PACCAR will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 14.75%.

About PACCAR

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.