PACCAR (NASDAQ:PCAR) Price Target Lowered to $105.00 at Citigroup

PACCAR (NASDAQ:PCAR) had its target price lowered by Citigroup from $112.00 to $105.00 in a report released on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on the stock. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. 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 report on Friday, December 6th. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Truist Financial boosted their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.54.

PACCAR Stock Up 0.5 %

PACCAR stock opened at $97.37 on Monday. 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 firm has a market cap of $51.11 billion, a P/E ratio of 12.31, a P/E/G ratio of 2.77 and a beta of 0.91. The business has a fifty day moving average of $104.93 and a two-hundred day moving average of $106.74. PACCAR has a twelve month low of $90.04 and a twelve month high of $124.39.

PACCAR (NASDAQ:PCAR) last issued 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%. On average, analysts forecast that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Activity at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last three months. Company insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PCAR. Chancellor Financial Group WB LP purchased a new position in shares of PACCAR in the 4th quarter valued at about $210,000. 111 Capital acquired a new stake in PACCAR in the 4th quarter valued at $421,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of PACCAR in the fourth quarter valued at about $42,432,000. LM Advisors LLC acquired a new stake in PACCAR in the 4th quarter worth about $1,022,000. Finally, Garde Capital Inc. purchased a new stake in PACCAR during the 4th quarter worth approximately $135,000. 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.