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

PACCAR Inc (NASDAQ:PCAR) has been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $113.82.

PCAR has been the subject of several recent analyst reports. Evercore ISI lowered their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. lowered their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Citigroup raised their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock valued at $6,358,552 over the last quarter. Insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after buying an additional 171,317 shares during the last quarter. Legal & General Group Plc raised its holdings in PACCAR by 5.9% during the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after purchasing an additional 242,435 shares in the last quarter. Capital International Investors raised its holdings in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. raised its holdings in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in PACCAR by 24.3% during the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock worth $319,218,000 after purchasing an additional 504,346 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 1.8 %

Shares of NASDAQ PCAR opened at $116.43 on Tuesday. PACCAR has a 12-month low of $87.58 and a 12-month high of $125.50. The company has a market cap of $61.04 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.79 and a beta of 0.89. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $101.94 and a 200 day moving average price of $102.59.

PACCAR (NASDAQ:PCAR) last announced its quarterly 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 firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the firm earned $2.34 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. Research analysts anticipate that PACCAR will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. PACCAR’s dividend payout ratio is currently 13.41%.

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.