Argus upgraded shares of PACCAR Inc. (NASDAQ:PCAR) from a hold rating to a buy rating in a research note published on Monday, November 6th, Marketbeat reports.
Several other research firms also recently weighed in on PCAR. Zacks Investment Research raised PACCAR from a sell rating to a buy rating and set a $77.00 target price for the company in a research report on Wednesday, July 12th. Wells Fargo & Company dropped their target price on PACCAR from $77.00 to $75.00 and set a market perform rating for the company in a research report on Wednesday, October 25th. ValuEngine raised PACCAR from a hold rating to a buy rating in a research report on Thursday, September 7th. Stifel Nicolaus lowered their price objective on PACCAR from $76.00 to $75.00 and set a hold rating for the company in a research report on Wednesday, October 25th. Finally, Robert W. Baird boosted their price objective on PACCAR from $80.00 to $82.00 and gave the stock a neutral rating in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $75.95.
PACCAR (NASDAQ PCAR) traded down $3.01 during midday trading on Monday, reaching $66.69. The company’s stock had a trading volume of 5,088,632 shares, compared to its average volume of 2,340,107. The firm has a market cap of $23,448.87, a P/E ratio of 17.10, a P/E/G ratio of 1.60 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56. PACCAR has a 52 week low of $58.78 and a 52 week high of $75.68.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. PACCAR’s revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. sell-side analysts anticipate that PACCAR will post 4.18 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s dividend payout ratio is currently 25.64%.
In other PACCAR news, VP Alma Lily Ley sold 4,024 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total value of $285,704.00. Following the completion of the sale, the vice president now owns 24,319 shares in the company, valued at $1,726,649. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $69.02, for a total value of $249,714.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,598 shares of company stock valued at $7,597,908. 2.64% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of PACCAR by 6.6% in the second quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock valued at $1,684,572,000 after purchasing an additional 1,572,038 shares during the period. Vanguard Group Inc. grew its holdings in PACCAR by 5.0% during the second quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock worth $1,621,636,000 after acquiring an additional 1,164,896 shares during the period. Bank of New York Mellon Corp grew its holdings in PACCAR by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 6,765,314 shares of the company’s stock worth $489,402,000 after acquiring an additional 694,185 shares during the period. Victory Capital Management Inc. grew its holdings in PACCAR by 5.5% during the third quarter. Victory Capital Management Inc. now owns 2,806,586 shares of the company’s stock worth $203,028,000 after acquiring an additional 145,932 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in PACCAR by 381.5% during the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after acquiring an additional 2,038,761 shares during the period. 63.03% of the stock is currently owned by institutional investors and hedge funds.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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