PACCAR Inc. (NASDAQ:PCAR) Given Average Rating of “Moderate Buy” by Brokerages

PACCAR Inc. (NASDAQ:PCAR) has earned an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $111.0385.

A number of research analysts recently commented on PCAR shares. Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Morgan Stanley set a $90.00 price objective on PACCAR in a research note on Tuesday, October 21st. Truist Financial lifted their target price on PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Finally, Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th.

PACCAR Trading Up 0.5%

Shares of PCAR opened at $118.80 on Friday. The company’s fifty day moving average is $106.78 and its 200 day moving average is $101.16. PACCAR has a fifty-two week low of $84.65 and a fifty-two week high of $119.21. The stock has a market capitalization of $62.39 billion, a PE ratio of 23.25, a P/E/G ratio of 14.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12.

PACCAR (NASDAQ:PCAR) last released 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). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter last year, the business earned $1.85 EPS. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. Sell-side analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in PACCAR in the fourth quarter worth about $437,000. SG Americas Securities LLC boosted its stake in PACCAR by 2,975.2% in the 4th quarter. SG Americas Securities LLC now owns 680,891 shares of the company’s stock worth $74,564,000 after purchasing an additional 658,750 shares in the last quarter. Fulton Bank N.A. lifted its stake in shares of PACCAR by 3.2% during the fourth quarter. Fulton Bank N.A. now owns 3,458 shares of the company’s stock worth $379,000 after buying an additional 107 shares during the period. True Wealth Design LLC lifted its position in PACCAR by 61.1% during the 4th quarter. True Wealth Design LLC now owns 364 shares of the company’s stock worth $40,000 after acquiring an additional 138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in PACCAR by 3.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 414,847 shares of the company’s stock valued at $48,570,000 after buying an additional 13,100 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.