Analysts Set PACCAR Inc (NASDAQ:PCAR) Target Price at $118.50

PACCAR Inc (NASDAQ:PCAR) has been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $118.50.

PCAR has been the topic of a number of research reports. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Citigroup upped their target price on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Finally, Truist Financial upped their price target on PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, December 19th.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

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

PACCAR Trading Up 1.4 %

PCAR stock opened at $104.90 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The company has a market cap of $55.00 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.77 and a beta of 0.91. The business has a fifty day simple moving average of $110.98 and a 200-day simple moving average of $103.74. PACCAR has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same period in the previous year, the company posted $2.34 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts expect that PACCAR will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date is Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is currently 14.75%.

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.