Brokerages Set PACCAR Inc (NASDAQ:PCAR) Price Target at $114.27

PACCAR Inc (NASDAQ:PCAR) has been assigned an average rating of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $114.27.

A number of analysts have issued reports on PCAR shares. Raymond James started coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. The Goldman Sachs Group lifted their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Citigroup started coverage on PACCAR in a report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price target for the company. Truist Financial decreased their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PACCAR

Several institutional investors have recently added to or reduced their stakes in the stock. Edgestream Partners L.P. boosted its holdings in PACCAR by 252.0% in the 2nd quarter. Edgestream Partners L.P. now owns 26,471 shares of the company’s stock valued at $2,725,000 after purchasing an additional 18,951 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in PACCAR in the 2nd quarter valued at approximately $88,437,000. Citizens Financial Group Inc. RI boosted its holdings in PACCAR by 13.2% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 3,655 shares of the company’s stock valued at $376,000 after purchasing an additional 425 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in PACCAR in the 2nd quarter valued at approximately $270,000. Finally, Menard Financial Group LLC boosted its holdings in PACCAR by 31.1% in the 2nd quarter. Menard Financial Group LLC now owns 3,199 shares of the company’s stock valued at $329,000 after purchasing an additional 759 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 0.5 %

NASDAQ:PCAR opened at $92.86 on Friday. The firm has a market cap of $48.68 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 1.42 and a beta of 0.92. The stock has a fifty day moving average price of $102.79 and a 200 day moving average price of $108.56. PACCAR has a 12-month low of $80.94 and a 12-month high of $125.50. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $2.33 earnings per share. Sell-side analysts anticipate that PACCAR will post 8.11 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.29%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.