PACCAR Inc (NASDAQ:PCAR) Given Average Recommendation of “Hold” by Brokerages

PACCAR Inc (NASDAQ:PCAR) has been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $121.23.

Several research analysts have weighed in on PCAR shares. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Finally, Truist Financial raised their price objective on shares of PACCAR from $110.00 to $112.00 and gave the company a “hold” rating in a research report on Thursday, January 16th.

Insider Activity

In other news, CEO R Preston Feight sold 27,191 shares of the 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 $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,085 shares of company stock worth $6,012,070 over the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Several hedge funds have recently bought and sold shares of PCAR. Wellington Management Group LLP raised its stake in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the period. Erste Asset Management GmbH purchased a new position in PACCAR during the third quarter worth about $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in PACCAR by 115.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after buying an additional 576,532 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $109.90 on Friday. The company has a market capitalization of $57.62 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm has a 50-day simple moving average of $110.55 and a 200-day simple moving average of $104.33. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is 13.41%.

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.