PACCAR (NASDAQ:PCAR) Price Target Cut to $109.00 by Analysts at Deutsche Bank Aktiengesellschaft

PACCAR (NASDAQ:PCAR) had its price target cut by Deutsche Bank Aktiengesellschaft from $121.00 to $109.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They issued a market perform rating on the stock. Royal Bank of Canada assumed coverage on PACCAR in a research report on Tuesday, March 26th. They set a sector perform rating and a $123.00 target price for the company. Citigroup began coverage on PACCAR in a research note on Wednesday, June 26th. They set a neutral rating and a $115.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on PACCAR from $135.00 to $115.00 and set an overweight rating for the company in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $114.27.

PACCAR Stock Performance

NASDAQ PCAR opened at $99.24 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.81 and a quick ratio of 2.49. PACCAR has a 1-year low of $80.94 and a 1-year high of $125.50. The business has a 50 day simple moving average of $105.33 and a two-hundred day simple moving average of $108.52. The stock has a market capitalization of $52.02 billion, a PE ratio of 10.29, a P/E/G ratio of 1.51 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 earnings per share. On average, research analysts predict that PACCAR will post 8.11 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Activity

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Insiders have sold a total of 45,040 shares of company stock worth $4,779,241 over the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Several institutional investors and hedge funds have recently modified their holdings of PCAR. PSI Advisors LLC purchased a new position in PACCAR during the first quarter valued at approximately $25,000. AdvisorNet Financial Inc grew its stake in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. YHB Investment Advisors Inc. acquired a new stake in shares of PACCAR during the 1st quarter worth approximately $27,000. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR during the 1st quarter valued at approximately $27,000. Finally, Riverview Trust Co acquired a new position in shares of PACCAR in the 1st quarter valued at $29,000. 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.