PACCAR (NASDAQ:PCAR) Cut to Hold (C+) at Weiss Ratings

Weiss Ratings cut shares of PACCAR (NASDAQ:PCAR) from a buy (b-) rating to a hold (c+) rating in a research note published on Saturday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on PCAR. Zacks Research cut shares of PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $103.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group restated a “hold” rating and set a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $106.59.

PACCAR Trading Up 0.9%

NASDAQ:PCAR opened at $101.08 on Friday. PACCAR has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The company’s 50-day simple moving average is $98.57 and its 200 day simple moving average is $95.84. The firm has a market capitalization of $53.08 billion, a P/E ratio of 19.78, a PEG ratio of 4.18 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company’s revenue was down 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 EPS. As a group, analysts forecast that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio is currently 25.83%.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.02% of the stock is currently owned by company insiders.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares during the last quarter. GAMMA Investing LLC lifted its position in PACCAR by 11.1% during the first quarter. GAMMA Investing LLC now owns 9,028 shares of the company’s stock valued at $879,000 after purchasing an additional 901 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in PACCAR by 62.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock valued at $3,533,000 after purchasing an additional 13,904 shares during the last quarter. Golden State Wealth Management LLC lifted its position in PACCAR by 147.4% during the first quarter. Golden State Wealth Management LLC now owns 871 shares of the company’s stock valued at $85,000 after purchasing an additional 519 shares during the last quarter. Finally, Perpetual Ltd lifted its position in PACCAR by 5.1% during the first quarter. Perpetual Ltd now owns 10,262 shares of the company’s stock valued at $999,000 after purchasing an additional 500 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other 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.