PACCAR (NASDAQ:PCAR) Earns Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of PACCAR (NASDAQ:PCAR) in a report released on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $119.00 target price on the stock.

Several other research analysts have also recently weighed in on PCAR. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, Truist Financial increased their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.82.

PACCAR Stock Down 2.8 %

Shares of NASDAQ PCAR opened at $112.72 on Monday. PACCAR has a 1 year low of $85.77 and a 1 year high of $125.50. The stock has a market capitalization of $59.10 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.64 and a beta of 0.89. The company has a 50-day moving average price of $101.21 and a 200-day moving average price of $102.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

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

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.06%. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Activity

In other news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 0.00 % decrease in their position. The sale 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 the company’s stock in a transaction on Friday, October 25th. The stock was 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 of the company’s stock, valued at $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. In the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its stake in shares of PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after acquiring an additional 27,963 shares in the last quarter. BDF Gestion purchased a new stake in shares of PACCAR during the 2nd quarter valued at about $2,862,000. Advisory Services Network LLC boosted its holdings in shares of PACCAR by 15.9% during the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after acquiring an additional 7,678 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of PACCAR by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after acquiring an additional 105,109 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of PACCAR during the 1st quarter valued at about $1,359,000. 64.90% of the stock is currently 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.