PACCAR Inc. (NASDAQ:PCAR) Stock Has Average Price Target of $131.50

Shares of PACCAR Inc. (NASDAQ:PCAR) have earned a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $131.50.

A number of analysts recently weighed in on PCAR shares. Wells Fargo & Company set a $122.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a report on Thursday, October 8th. BNP Paribas Exane cut their price objective on shares of PACCAR from $136.00 to $107.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Truist Financial set a $125.00 target price on shares of PACCAR and gave the company a “hold” rating in a research note on Monday, October 5th. Citigroup decreased their target price on shares of PACCAR from $140.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Jefferies Financial Group upped their target price on shares of PACCAR from $120.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $110.81 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The firm has a market capitalization of $58.33 billion, a PE ratio of 23.28, a P/E/G ratio of 1.24 and a beta of 0.98. PACCAR has a 1-year low of $93.19 and a 1-year high of $139.24. The business’s fifty day moving average price is $119.99 and its two-hundred day moving average price is $120.53.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. On average, research analysts expect that PACCAR will post 5.91 EPS for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR’s payout ratio is 29.41%.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 1,970 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the sale, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This represents a 43.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of PACCAR during the second quarter valued at $4,927,720,000. Bank of America Corp DE bought a new stake in shares of PACCAR during the second quarter valued at about $1,130,496,000. Bank of New York Mellon Corp bought a new stake in shares of PACCAR during the second quarter valued at about $453,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in PACCAR by 9.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,424,315 shares of the company’s stock worth $411,329,000 after purchasing an additional 305,215 shares during the period. Finally, Amundi lifted its holdings in PACCAR by 108.7% in the second quarter. Amundi now owns 3,197,359 shares of the company’s stock worth $384,066,000 after purchasing an additional 1,665,545 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global manufacturer of heavy-duty trucks and related transportation products. The company designs, develops and markets trucks under the Kenworth, Peterbilt and DAF brands, serving the long-haul, construction, vocational and distribution markets.

In addition to complete trucks, PACCAR provides diesel and electric powertrains, engines, parts and related aftermarket services. Its PACCAR Parts business distributes replacement parts and accessories through a network of distribution centers and dealerships, while PACCAR Financial offers retail and wholesale financing and leasing services to customers and dealers.

Founded in 1905, PACCAR has grown from a regional equipment manufacturer into an international transportation company.