PACCAR (NASDAQ:PCAR) Rating Lowered to Neutral at UBS Group

UBS Group lowered shares of PACCAR (NASDAQ:PCAR) from a buy rating to a neutral rating in a report published on Tuesday, Marketbeat.com reports. They currently have $108.00 price target on the stock, down from their prior price target of $124.00.

PCAR has been the topic of a number of other reports. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup reduced their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $118.23.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $100.21 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a market cap of $52.59 billion, a P/E ratio of 12.67, a P/E/G ratio of 2.77 and a beta of 0.91. The firm’s fifty day moving average is $106.86 and its two-hundred day moving average is $106.50. PACCAR has a 52-week low of $90.04 and a 52-week high of $125.50.

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

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 16.69%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’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 in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 in the last three months. Corporate insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds have recently added to or reduced their stakes in PCAR. Principal Financial Group Inc. lifted its position in shares of PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the period. Quest Partners LLC lifted its position in shares of PACCAR by 45,433.3% in the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock worth $270,000 after purchasing an additional 2,726 shares during the period. Caprock Group LLC lifted its position in shares of PACCAR by 18.4% in the 3rd quarter. Caprock Group LLC now owns 24,728 shares of the company’s stock worth $2,440,000 after purchasing an additional 3,835 shares during the period. LGT Capital Partners LTD. lifted its position in shares of PACCAR by 32.0% in the 3rd quarter. LGT Capital Partners LTD. now owns 574,965 shares of the company’s stock worth $56,738,000 after purchasing an additional 139,270 shares during the period. Finally, Banque Cantonale Vaudoise lifted its position in shares of PACCAR by 73.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 10,291 shares of the company’s stock worth $1,016,000 after purchasing an additional 4,372 shares during the period. 64.90% of the stock is currently owned by institutional investors.

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.