PACCAR Inc (NASDAQ:PCAR) Receives Average Recommendation of “Hold” from Brokerages

PACCAR Inc (NASDAQ:PCAR) has been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $120.35.

PCAR has been the topic of several research reports. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Evercore ISI decreased their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Citigroup decreased their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd.

PACCAR Trading Up 0.8 %

NASDAQ:PCAR opened at $99.21 on Monday. PACCAR has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $107.17 and a 200-day simple moving average of $106.43. The company has a market capitalization of $52.07 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities research analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Activity

In other news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Metis Global Partners LLC lifted its position in PACCAR by 1.8% in the 3rd quarter. Metis Global Partners LLC now owns 16,751 shares of the company’s stock valued at $1,653,000 after purchasing an additional 300 shares during the last quarter. KCM Investment Advisors LLC bought a new stake in PACCAR in the 3rd quarter valued at about $282,000. Natixis Advisors LLC lifted its position in PACCAR by 23.3% in the 3rd quarter. Natixis Advisors LLC now owns 863,184 shares of the company’s stock valued at $85,179,000 after purchasing an additional 163,192 shares during the last quarter. Finally, Kinsale Capital Group Inc. lifted its position in PACCAR by 17.2% in the 3rd 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 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.