PACCAR Inc (NASDAQ:PCAR) Receives $118.50 Consensus PT from Analysts

PACCAR Inc (NASDAQ:PCAR) has been assigned an average recommendation of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $118.50.

PCAR has been the subject of several research reports. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Morgan Stanley reduced their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Finally, Citigroup upped their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock valued at $6,358,552 over the last quarter. 2.02% of the stock is owned by insiders.

Institutional Trading of PACCAR

Institutional investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new position in PACCAR during the second quarter worth $70,000. Van ECK Associates Corp purchased a new position in PACCAR in the 2nd quarter valued at about $8,763,000. Aptus Capital Advisors LLC grew its holdings in shares of PACCAR by 9.4% during the second quarter. Aptus Capital Advisors LLC now owns 5,050 shares of the company’s stock worth $520,000 after buying an additional 434 shares in the last quarter. Versor Investments LP raised its position in shares of PACCAR by 61.3% in the second quarter. Versor Investments LP now owns 10,000 shares of the company’s stock valued at $1,029,000 after buying an additional 3,800 shares during the last quarter. Finally, TIAA Trust National Association lifted its stake in shares of PACCAR by 6.2% during the second quarter. TIAA Trust National Association now owns 2,675 shares of the company’s stock valued at $275,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $109.56 on Wednesday. PACCAR has a twelve month low of $90.04 and a twelve month high of $125.50. The firm has a 50 day moving average of $111.04 and a 200 day moving average of $103.77. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $57.44 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. PACCAR’s revenue was down 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that PACCAR will post 7.98 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 14.75%.

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.