Deutsche Bank AG reissued their hold rating on shares of PACCAR Inc. (NASDAQ:PCAR) in a research note released on Monday morning. They currently have a $78.00 target price on the stock, up from their previous target price of $75.00.
Other research analysts have also recently issued research reports about the company. BidaskClub cut PACCAR from a sell rating to a strong sell rating in a research report on Saturday, June 24th. UBS AG restated a buy rating and issued a $76.00 price target (up previously from $75.00) on shares of PACCAR in a research report on Wednesday, July 26th. Citigroup Inc. raised their price target on PACCAR from $74.00 to $78.00 and gave the stock a buy rating in a research report on Wednesday, July 26th. Royal Bank Of Canada restated a buy rating and issued a $77.00 price target on shares of PACCAR in a research report on Tuesday, October 3rd. Finally, Goldman Sachs Group, Inc. (The) upgraded PACCAR from a neutral rating to a buy rating and set a $79.00 price target on the stock in a research report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. PACCAR presently has a consensus rating of Hold and an average price target of $75.26.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.06 EPS.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. PACCAR’s dividend payout ratio (DPR) is 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the sale, the insider now owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Perpetual Ltd bought a new position in PACCAR in the 2nd quarter worth about $2,010,000. Toronto Dominion Bank increased its stake in PACCAR by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 118,996 shares of the company’s stock worth $7,857,000 after acquiring an additional 24,307 shares during the last quarter. Cetera Investment Advisers bought a new position in PACCAR in the 2nd quarter worth about $204,000. WINTON GROUP Ltd increased its stake in PACCAR by 97.2% in the 2nd quarter. WINTON GROUP Ltd now owns 6,963 shares of the company’s stock worth $460,000 after acquiring an additional 3,432 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in PACCAR in the 2nd quarter worth about $213,000. Institutional investors and hedge funds own 62.13% of the company’s stock.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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