PACCAR Inc. (NASDAQ:PCAR) Receives $131.70 Consensus PT from Analysts

PACCAR Inc. (NASDAQ:PCAR) has been assigned an average rating of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $131.70.

A number of equities analysts have commented on PCAR shares. Truist Financial increased their target price on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Morgan Stanley set a $119.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their price target on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Wells Fargo & Company increased their price objective on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th.

PACCAR Price Performance

NASDAQ:PCAR opened at $129.23 on Monday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR has a 52 week low of $92.25 and a 52 week high of $139.24. The stock’s 50-day moving average price is $127.07 and its 200-day moving average price is $121.91. The stock has a market capitalization of $68.02 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 EPS. As a group, equities analysts expect that PACCAR will post 5.89 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 50,975 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares in the company, valued at $35,745,928.75. The trade was a 15.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the transaction, the chief financial officer directly owned 1,391 shares in the company, valued at $184,307.50. This trade represents a 58.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 56,842 shares of company stock worth $7,565,677 over the last three months. Insiders own 1.99% of the company’s stock.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in PACCAR by 11,629.3% during the second quarter. California State Teachers Retirement System now owns 97,627,770 shares of the company’s stock worth $11,727,048,000 after buying an additional 96,795,432 shares during the period. Vanguard Group Inc. grew its position in PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after buying an additional 363,782 shares during the last quarter. BlackRock Inc. acquired a new position in PACCAR in the 2nd quarter valued at $4,927,720,000. Wellington Management Group LLP increased its stake in PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the period. Finally, State Street Corp raised its position in PACCAR by 0.4% during the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares during the last quarter. Institutional investors and hedge funds 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.