PACCAR (NASDAQ:PCAR) Price Target Cut to $95.00 by Analysts at Citigroup

PACCAR (NASDAQ:PCAR) had its price objective trimmed by Citigroup from $105.00 to $95.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also issued reports on PCAR. Evercore ISI cut their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Truist Financial decreased their target price on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Melius Research set a $120.00 price objective on PACCAR in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.46.

PACCAR Stock Performance

PCAR stock opened at $88.77 on Tuesday. The firm has a market cap of $46.60 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $101.28 and a 200-day moving average price of $106.21. PACCAR has a 1-year low of $85.10 and a 1-year high of $121.75.

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

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.49%. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 in the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PACCAR by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock worth $1,275,269,000 after buying an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA grew its stake in PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after buying an additional 572,231 shares in the last quarter. FMR LLC raised its holdings in PACCAR by 1.9% during the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after acquiring an additional 167,165 shares during the period. Finally, Northern Trust Corp lifted its position in shares of PACCAR by 8.5% during the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock worth $749,189,000 after acquiring an additional 565,967 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

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.