PACCAR (NASDAQ:PCAR) Earns Hold Rating from Truist Financial

Truist Financial reiterated their hold rating on shares of PACCAR (NASDAQ:PCAR) in a report published on Thursday, Benzinga reports. Truist Financial currently has a $121.00 price objective on the stock, up from their previous price objective of $117.00.

A number of other brokerages have also recently commented on PCAR. JPMorgan Chase & Co. dropped their price target on PACCAR from $140.00 to $130.00 and set an overweight rating on the stock in a research report on Wednesday. The Goldman Sachs Group boosted their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. UBS Group raised shares of PACCAR from a neutral rating to a buy rating and raised their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. TD Cowen lifted their price objective on shares of PACCAR from $91.00 to $108.00 and gave the company a market perform rating in a research note on Wednesday, January 24th. Finally, Morgan Stanley started coverage on PACCAR in a research report on Monday, January 8th. They set an overweight rating and a $125.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $112.62.

PACCAR Stock Down 1.6 %

Shares of NASDAQ PCAR traded down $1.67 during trading on Thursday, hitting $104.79. The stock had a trading volume of 3,899,161 shares, compared to its average volume of 2,813,976. The firm has a fifty day moving average of $116.42 and a two-hundred day moving average of $102.53. The company has a market capitalization of $54.91 billion, a PE ratio of 10.87, a PEG ratio of 1.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 2.21. PACCAR has a 12 month low of $68.40 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. PACCAR’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $2.25 earnings per share. As a group, equities research analysts forecast that PACCAR will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is currently 11.20%.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several hedge funds have recently bought and sold shares of PCAR. PSI Advisors LLC bought a new position in PACCAR during the 1st quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in shares of PACCAR in the 3rd quarter worth about $26,000. AdvisorNet Financial Inc boosted its stake in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in PACCAR during the 1st quarter valued at about $27,000. Finally, Riverview Trust Co purchased a new stake in shares of PACCAR during the first quarter valued at approximately $29,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.