PACCAR Inc. (NASDAQ:PCAR) Given Average Recommendation of “Hold” by Analysts

Shares of PACCAR Inc. (NASDAQ:PCAR) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $116.50.

Several research firms have weighed in on PCAR. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Truist Financial boosted their price target on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, January 28th. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Wells Fargo & Company set a $119.00 price target on PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 9,258 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the completion of the transaction, the chief executive officer owned 258,566 shares in the company, valued at approximately $33,536,010.20. This represents a 3.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP C Michael Dozier sold 79,076 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 133,105 shares of company stock worth $16,869,046. 2.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACCAR

Institutional investors have recently bought and sold shares of the business. MidFirst Bank acquired a new stake in shares of PACCAR in the fourth quarter valued at $222,000. Barnes Wealth Management Group Inc acquired a new position in PACCAR during the 4th quarter worth about $212,000. MV Capital Management Inc. bought a new stake in PACCAR during the 4th quarter worth about $43,000. Compound Planning Inc. increased its position in PACCAR by 10.0% in the 4th quarter. Compound Planning Inc. now owns 6,889 shares of the company’s stock valued at $754,000 after acquiring an additional 625 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of PACCAR by 1.5% in the fourth quarter. Invesco Ltd. now owns 5,478,934 shares of the company’s stock worth $599,998,000 after acquiring an additional 82,046 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 1.6%

Shares of PACCAR stock opened at $126.09 on Monday. PACCAR has a 1 year low of $84.65 and a 1 year high of $131.88. The company has a market cap of $66.31 billion, a P/E ratio of 27.96, a P/E/G ratio of 1.06 and a beta of 1.03. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $120.95 and a 200 day moving average price of $107.82.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm’s quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 EPS. As a group, analysts expect that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is presently 29.27%.

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.