PACCAR (NASDAQ:PCAR) Price Target Lowered to $107.00 at Truist Financial

PACCAR (NASDAQ:PCAR) had its price objective cut by Truist Financial from $115.00 to $107.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

PCAR has been the subject of a number of other research reports. Royal Bank of Canada assumed coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a sector perform rating and a $123.00 target price for the company. Citigroup assumed coverage on shares of PACCAR in a research note on Wednesday, June 26th. They set a neutral rating and a $115.00 target price for the company. StockNews.com upgraded shares of PACCAR from a hold rating to a buy rating in a research note on Wednesday. The Goldman Sachs Group boosted their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Finally, Raymond James began coverage on shares of PACCAR in a research report on Friday, June 28th. They issued a market perform rating for the company. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $114.27.

PACCAR Stock Performance

NASDAQ:PCAR opened at $99.24 on Wednesday. The company has a fifty day simple moving average of $105.33 and a two-hundred day simple moving average of $108.61. The company has a market cap of $52.02 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. The company has a quick ratio of 2.49, a current ratio of 1.81 and a debt-to-equity ratio of 0.54. PACCAR has a 52 week low of $80.94 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted 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). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 EPS. As a group, equities analysts anticipate that PACCAR will post 8.11 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. PACCAR’s payout ratio is 12.45%.

Insider Activity

In other news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,040 shares of company stock valued at $4,779,241. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. PSI Advisors LLC purchased a new position in PACCAR during the first quarter worth about $25,000. AdvisorNet Financial Inc grew its position in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. YHB Investment Advisors Inc. acquired a new position in PACCAR during the first quarter worth about $27,000. New Covenant Trust Company N.A. acquired a new position in PACCAR during the first quarter worth about $27,000. Finally, Riverview Trust Co acquired a new position in PACCAR during the first quarter worth about $29,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

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.