PACCAR (NASDAQ:PCAR) Receives New Coverage from Analysts at Raymond James

Raymond James started coverage on shares of PACCAR (NASDAQ:PCAR) in a report released on Friday morning, MarketBeat.com reports. The firm issued a market perform rating on the stock.

Several other equities analysts have also recently issued reports on PCAR. StockNews.com cut shares of PACCAR from a buy rating to a hold rating in a research note on Thursday. Truist Financial reiterated a hold rating and issued a $121.00 target price (up from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. JPMorgan Chase & Co. decreased 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. Citigroup started coverage on shares of PACCAR in a research note on Wednesday. They issued a neutral rating and a $115.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $114.38.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $102.94 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR has a 12 month low of $80.64 and a 12 month high of $125.50. The company has a 50 day simple moving average of $107.60 and a two-hundred day simple moving average of $107.63. The stock has a market cap of $53.96 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.59 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the business posted $2.25 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that PACCAR will post 8.36 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.30 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Transactions at PACCAR

In other news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock valued at $4,779,241 over the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

A number of hedge funds have recently modified their holdings of PCAR. PSI Advisors LLC purchased a new stake in shares of PACCAR in the first quarter valued at about $25,000. AdvisorNet Financial Inc grew its holdings in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR in the first quarter valued at about $27,000. New Covenant Trust Company N.A. acquired a new position in PACCAR in the first quarter valued at about $27,000. Finally, Riverview Trust Co acquired a new position in PACCAR in the first quarter valued at about $29,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.