PACCAR (NASDAQ:PCAR) Price Target Lowered to $115.00 at Truist Financial

PACCAR (NASDAQ:PCAR) had its target price cut by Truist Financial from $121.00 to $115.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also issued reports on PCAR. Royal Bank of Canada initiated coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a sector perform rating and a $123.00 target price for the company. The Goldman Sachs Group boosted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. StockNews.com cut shares of PACCAR from a buy rating to a hold rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $140.00 to $130.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Finally, UBS Group raised shares of PACCAR from a neutral rating to a buy rating and upped their price objective for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of Hold and a consensus price target of $113.92.

PACCAR Trading Down 0.9 %

PACCAR stock opened at $100.91 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The firm has a market cap of $52.89 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.92. PACCAR has a 1 year low of $80.91 and a 1 year high of $125.50. The firm’s 50 day moving average price is $107.39 and its two-hundred day moving average price is $107.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the previous year, the business posted $2.25 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict that PACCAR will post 8.35 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,040 shares of company stock valued at $4,779,241. Corporate insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Hedge funds have recently modified their holdings of the stock. PSI Advisors LLC acquired a new stake in PACCAR in the 1st quarter worth about $25,000. YHB Investment Advisors Inc. acquired a new stake in PACCAR in the 1st quarter worth about $27,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the 1st quarter worth about $27,000. Riverview Trust Co acquired a new stake in PACCAR in the 1st quarter worth about $29,000. Finally, Rise Advisors LLC acquired a new stake in PACCAR in the 1st quarter worth about $31,000. Institutional investors and hedge funds 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.