PACCAR (NASDAQ:PCAR) Lowered to Neutral Rating by UBS Group

UBS Group downgraded shares of PACCAR (NASDAQ:PCAR) from a buy rating to a neutral rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $108.00 price objective on the stock, down from their previous price objective of $124.00.

A number of other equities research analysts have also recently commented on PCAR. Evercore ISI cut their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Truist Financial increased their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Citigroup cut their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $118.23.

PACCAR Price Performance

Shares of PCAR opened at $100.21 on Tuesday. The stock has a market cap of $52.59 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm’s 50-day simple moving average is $106.86 and its two-hundred day simple moving average is $106.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts anticipate that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given 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 presently 16.69%.

Insiders Place Their Bets

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Several institutional investors and hedge funds have recently modified their holdings of PCAR. Principal Financial Group Inc. raised its position in shares of PACCAR by 5.6% during 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 period. Quest Partners LLC raised its position in shares of PACCAR by 45,433.3% during the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock valued at $270,000 after purchasing an additional 2,726 shares during the period. Caprock Group LLC raised its position in shares of PACCAR by 18.4% during the 3rd quarter. Caprock Group LLC now owns 24,728 shares of the company’s stock valued at $2,440,000 after purchasing an additional 3,835 shares during the period. LGT Capital Partners LTD. raised its position in shares of PACCAR by 32.0% during the 3rd quarter. LGT Capital Partners LTD. now owns 574,965 shares of the company’s stock valued at $56,738,000 after purchasing an additional 139,270 shares during the period. Finally, Banque Cantonale Vaudoise raised its position in shares of PACCAR by 73.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 10,291 shares of the company’s stock valued at $1,016,000 after purchasing an additional 4,372 shares during the period. 64.90% of the stock is currently owned by institutional investors.

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.