Truist Financial Raises PACCAR (NASDAQ:PCAR) Price Target to $113.00

PACCAR (NASDAQ:PCAR) had its price target boosted by Truist Financial from $112.00 to $113.00 in a research report released on Wednesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other brokerages also recently commented on PCAR. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price target on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Finally, Morgan Stanley decreased their target price 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. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.32.

PACCAR Price Performance

PACCAR stock opened at $110.89 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The business has a 50 day simple moving average of $110.45 and a 200-day simple moving average of $104.45. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market capitalization of $58.14 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. Equities analysts predict that PACCAR will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the 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 sale, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PACCAR

A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after buying an additional 178,813 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

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.