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

Shares of PACCAR Inc. (NASDAQ:PCAR) have been given an average rating of “Hold” by the sixteen analysts that are currently covering the company, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $122.00.

A number of research firms have weighed in on PCAR. Truist Financial boosted their target price on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Citigroup reaffirmed a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st.

Institutional Investors Weigh In On PACCAR

Several institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System grew its position in shares of PACCAR by 0.8% in the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock valued at $105,725,000 after purchasing an additional 9,045 shares in the last quarter. Merit Financial Group LLC grew its stake in PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after acquiring an additional 15,169 shares in the last quarter. Nordea Investment Management AB grew its stake in PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after acquiring an additional 13,668 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after acquiring an additional 9,524 shares during the period. Finally, Vanguard Group Inc. increased its holdings in PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after acquiring an additional 363,782 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Down 0.4%

Shares of PACCAR stock opened at $120.58 on Wednesday. The firm has a market cap of $63.46 billion, a PE ratio of 25.62, a P/E/G ratio of 1.12 and a beta of 0.98. PACCAR has a 1 year low of $90.05 and a 1 year high of $131.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The stock has a fifty day moving average price of $117.75 and a 200-day moving average price of $117.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the firm earned $1.46 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Equities research analysts anticipate that PACCAR will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a $0.35 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s payout ratio is 29.79%.

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.