PACCAR Inc (NASDAQ:PCAR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of PACCAR Inc (NASDAQ:PCAR) have been given a consensus recommendation of “Hold” by the fourteen research firms that are covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $118.50.

A number of equities analysts have commented on the company. Citigroup lifted their price target on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th.

PACCAR Price Performance

PCAR stock opened at $104.02 on Wednesday. The firm has a market cap of $54.54 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.77 and a beta of 0.91. The firm’s fifty day moving average is $111.02 and its 200 day moving average is $103.82. PACCAR has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period last year, the firm earned $2.34 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. Research analysts predict that PACCAR will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

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

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 in the last three months. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares during the period. Renaissance Technologies LLC bought a new position in shares of PACCAR in the 2nd quarter worth approximately $88,437,000. Finally, Erste Asset Management GmbH purchased a new position in shares of PACCAR during the 3rd quarter worth $63,186,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

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.