Citigroup Trims PACCAR (NASDAQ:PCAR) Target Price to $100.00

PACCAR (NASDAQ:PCAR) had its price target cut by Citigroup from $106.00 to $100.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. StockNews.com upgraded shares of PACCAR from a hold rating to a buy rating in a research note on Wednesday, July 24th. The Goldman Sachs Group boosted their price target on PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Raymond James initiated coverage on PACCAR in a report on Friday, June 28th. They set a market perform rating on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on PACCAR from $121.00 to $109.00 and set a buy rating for the company in a report on Wednesday, July 24th. Finally, Truist Financial dropped their price target on shares of PACCAR from $115.00 to $107.00 and set a hold rating on the stock in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $112.91.

PACCAR Trading Up 1.1 %

Shares of PCAR opened at $93.69 on Monday. PACCAR has a 1-year low of $80.94 and a 1-year high of $125.50. The business’s 50-day moving average price is $101.93 and its 200 day moving average price is $108.37. The stock has a market capitalization of $49.11 billion, a P/E ratio of 9.72, a P/E/G ratio of 1.44 and a beta of 0.92. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same quarter last year, the company posted $2.33 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. Analysts expect that PACCAR will post 8.07 earnings per share for the current 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 paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio is 12.45%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in PACCAR during the 4th quarter worth approximately $448,288,000. Capital International Investors boosted its position in PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after buying an additional 1,225,468 shares during the last quarter. TD Asset Management Inc increased its stake in shares of PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after buying an additional 1,095,894 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of PACCAR during the fourth quarter valued at $87,441,000. Finally, Renaissance Technologies LLC bought a new position in PACCAR in the second quarter valued at about $88,437,000. 64.90% of the stock is owned by institutional investors.

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.