PACCAR (NASDAQ:PCAR) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of PACCAR (NASDAQ:PCAR) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $140.00 to $130.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. UBS Group upgraded PACCAR from a neutral rating to a buy rating and increased their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. The Goldman Sachs Group boosted their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Royal Bank of Canada assumed coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a sector perform rating and a $123.00 price target for the company. Finally, Citigroup initiated coverage on PACCAR in a research note on Wednesday. They set a neutral rating and a $115.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $114.38.

PACCAR Stock Down 0.3 %

PCAR stock opened at $103.97 on Thursday. PACCAR has a 12 month low of $79.95 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The company has a market cap of $54.50 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94. The company has a fifty day moving average price of $107.96 and a 200 day moving average price of $107.62.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.25 earnings per share. Sell-side analysts expect that PACCAR will post 8.36 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.15%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The disclosure for this sale can be found here. In the last three months, insiders sold 45,040 shares of company stock worth $4,779,241. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PCAR. Fisher Asset Management LLC boosted its position in shares of PACCAR by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after buying an additional 89,984 shares during the period. Norges Bank purchased a new stake in PACCAR during the 4th quarter worth $448,288,000. Capital International Investors lifted its holdings in PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after buying an additional 1,225,468 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in PACCAR by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock valued at $289,788,000 after buying an additional 54,273 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of PACCAR by 0.9% during the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock valued at $268,551,000 after acquiring an additional 23,394 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

About PACCAR

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.