PACCAR (PCAR) – Research Analysts’ Recent Ratings Changes

PACCAR (NASDAQ: PCAR) recently received a number of ratings updates from brokerages and research firms:

• 10/23/2024 – PACCAR had its price target lowered by analysts at JPMorgan Chase & Co. from $125.00 to $122.00. They now have an “overweight” rating on the stock.
• 10/23/2024 – PACCAR had its price target lowered by analysts at Morgan Stanley from $135.00 to $126.00. They now have an “overweight” rating on the stock.
• 10/23/2024 – PACCAR had its price target raised by analysts at Truist Financial Co. from $103.00 to $107.00. They now have a “hold” rating on the stock.
• 10/16/2024 – PACCAR was upgraded by analysts at BNP Paribas to a “hold” rating.
• 10/11/2024 – PACCAR had its price target raised by analysts at JPMorgan Chase & Co. from $115.00 to $125.00. They now have an “overweight” rating on the stock.
• 10/9/2024 – PACCAR had its price target raised by analysts at Citigroup Inc. from $100.00 to $108.00. They now have a “neutral” rating on the stock.
• 10/9/2024 – PACCAR had its price target lowered by analysts at Truist Financial Co. from $107.00 to $103.00. They now have a “hold” rating on the stock.

PACCAR Trading Down 0.6 %

PCAR stock traded down $0.62 during mid-day trading on Thursday, hitting $104.28. 2,412,369 shares of the company were exchanged, compared to its average volume of 2,633,335. The firm has a market capitalization of $54.67 billion, a P/E ratio of 11.65, a PEG ratio of 1.65 and a beta of 0.91. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $100.01 and a 200-day simple moving average of $102.94.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 earnings per share. On average, equities research analysts predict that PACCAR Inc will post 8 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.15%. PACCAR’s payout ratio is currently 13.41%.

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 in the company, valued at approximately $11,287,316.94. 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 accessible through this link. In related news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,124 shares of company stock valued at $3,543,740. 2.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in PACCAR in the 2nd quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new position in PACCAR in the 1st quarter worth approximately $27,000. Meeder Asset Management Inc. boosted its holdings in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in PACCAR in the 2nd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC boosted its holdings in PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after acquiring an additional 244 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

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.