Analysts Set PACCAR Inc (NASDAQ:PCAR) Target Price at $113.46

PACCAR Inc (NASDAQ:PCAR) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $112.13.

A number of analysts have recently commented on PCAR shares. JPMorgan Chase & Co. lowered their target price on PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday. Truist Financial lowered their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI cut their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Citigroup lowered their price target on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 over the last quarter. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its stake in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after buying an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PACCAR during the 4th quarter worth $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR during the 4th quarter valued at about $37,000. Sunbelt Securities Inc. grew its holdings in shares of PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after purchasing an additional 350 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in PACCAR during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $90.47 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR has a 12-month low of $85.10 and a 12-month high of $121.75. The firm has a 50 day moving average of $100.92 and a two-hundred day moving average of $106.21. The firm has a market capitalization of $47.49 billion, a PE ratio of 11.44, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, analysts anticipate that PACCAR will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is presently 16.69%.

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.