PACCAR (NASDAQ:PCAR – Free Report) had its target price upped by Citigroup from $120.00 to $125.00 in a report released on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.
Other equities analysts also recently issued reports about the company. Morgan Stanley reduced their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average target price of $118.25.
Get Our Latest Report on PACCAR
PACCAR Stock Down 0.9 %
PACCAR (NASDAQ:PCAR – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, analysts expect that PACCAR will post 7.98 EPS for the current fiscal year.
PACCAR Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. PACCAR’s payout ratio is currently 13.41%.
Insider Transactions at PACCAR
In other news, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares in the company, valued at $761,947. This trade represents a 58.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 over the last quarter. 2.02% of the stock is currently owned by insiders.
Institutional Trading of PACCAR
A number of institutional investors have recently made changes to their positions in PCAR. Mengis Capital Management Inc. boosted its position in shares of PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after acquiring an additional 5,433 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after acquiring an additional 89,245 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in PACCAR by 28.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after acquiring an additional 5,437 shares during the period. Charles Schwab Investment Management Inc. increased its stake in PACCAR by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,052,899 shares of the company’s stock worth $301,260,000 after acquiring an additional 47,855 shares during the last quarter. Finally, Kinsale Capital Group Inc. raised its position in PACCAR by 17.2% in the third quarter. Kinsale Capital Group Inc. now owns 50,794 shares of the company’s stock valued at $5,012,000 after purchasing an additional 7,451 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.
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.
Recommended Stories
- Five stocks we like better than PACCAR
- How Investors Can Find the Best Cheap Dividend Stocks
- How to Master Trading Discipline: Overcome Emotional Challenges
- About the Markup Calculator
- Does China Investigation Change NVIDIA’s Outlook; Yes, No, Maybe?
- Why is the Ex-Dividend Date Significant to Investors?
- Is Marvell Technology Chipping Away at NVIDIA’s Market Lead?
Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.