Several other equities research analysts have also recently weighed in on PCAR. BidaskClub raised PACCAR from a strong sell rating to a sell rating in a research note on Thursday, June 28th. Robert W. Baird cut PACCAR from a neutral rating to an underperform rating in a research note on Monday, July 2nd. ValuEngine cut PACCAR from a sell rating to a strong sell rating in a research note on Wednesday, July 4th. Zacks Investment Research cut PACCAR from a buy rating to a hold rating in a research note on Wednesday, July 4th. Finally, BMO Capital Markets cut PACCAR from an outperform rating to a market perform rating and set a $80.00 price target for the company. in a research note on Wednesday, July 18th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $68.87.
Shares of PCAR opened at $60.77 on Thursday. PACCAR has a 12-month low of $53.95 and a 12-month high of $79.69. The company has a quick ratio of 2.44, a current ratio of 2.63 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $21.30 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.91 and a beta of 1.39.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be issued a $0.28 dividend. The ex-dividend date is Friday, November 9th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.84%. PACCAR’s dividend payout ratio is presently 26.29%.
In other news, VP Douglas S. Grandstaff sold 607 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $59.67, for a total value of $36,219.69. Following the transaction, the vice president now owns 5,284 shares in the company, valued at $315,296.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark C. Pigott sold 194,004 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $58.84, for a total value of $11,415,195.36. Following the completion of the transaction, the insider now owns 3,080,449 shares in the company, valued at approximately $181,253,619.16. The disclosure for this sale can be found here. Insiders sold 195,262 shares of company stock worth $11,490,110 in the last 90 days. Corporate insiders own 2.64% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its position in shares of PACCAR by 26.1% during the third quarter. FMR LLC now owns 6,043,716 shares of the company’s stock valued at $412,121,000 after acquiring an additional 1,249,446 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of PACCAR by 33.3% during the third quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock valued at $410,954,000 after acquiring an additional 1,505,929 shares during the last quarter. Boston Partners increased its position in shares of PACCAR by 1.1% during the second quarter. Boston Partners now owns 3,453,227 shares of the company’s stock valued at $213,962,000 after acquiring an additional 36,111 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of PACCAR by 11.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,653,453 shares of the company’s stock valued at $180,962,000 after acquiring an additional 274,613 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of PACCAR by 75.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock valued at $121,393,000 after acquiring an additional 763,338 shares during the last quarter. 61.48% 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, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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