PACCAR (NASDAQ:PCAR) Price Target Cut to $127.00 by Analysts at Evercore ISI

PACCAR (NASDAQ:PCAR) had its price objective reduced by Evercore ISI from $129.00 to $127.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price target on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Stock Up 0.6 %

Shares of NASDAQ:PCAR opened at $107.21 on Wednesday. The firm has a market cap of $56.21 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 2.75 and a beta of 0.92. PACCAR has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average price is $107.80 and its two-hundred day moving average price is $105.06.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share 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, research analysts forecast that PACCAR will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 16.69%.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,547 shares of company stock valued at $17,625,128 over the last ninety days. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in shares of PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after acquiring an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC boosted its stake in PACCAR by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock valued at $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after buying an additional 572,231 shares during the last quarter. FMR LLC increased its position in PACCAR by 1.9% during the fourth quarter. FMR LLC now owns 8,791,660 shares of the company’s stock worth $914,509,000 after acquiring an additional 167,165 shares during the period. Finally, Northern Trust Corp lifted its position in shares of PACCAR by 8.5% in the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock worth $749,189,000 after acquiring an additional 565,967 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

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.