PACCAR (NASDAQ:PCAR) Price Target Cut to $115.00

PACCAR (NASDAQ:PCAR) had its target price lowered by Truist Financial from $121.00 to $115.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other brokerages also recently issued reports on PCAR. Citigroup initiated coverage on PACCAR in a research note on Wednesday, June 26th. They issued a neutral rating and a $115.00 target price for the company. JPMorgan Chase & Co. cut their price objective on PACCAR from $140.00 to $130.00 and set an overweight rating for the company in a research report on Wednesday, May 1st. UBS Group raised PACCAR from a neutral rating to a buy rating and raised their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Royal Bank of Canada initiated coverage on PACCAR in a research report on Tuesday, March 26th. They set a sector perform rating and a $123.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $113.92.

PACCAR Stock Down 0.9 %

NASDAQ PCAR opened at $100.91 on Tuesday. The business has a fifty day moving average price of $107.39 and a 200 day moving average price of $107.81. PACCAR has a one year low of $80.91 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The company has a market cap of $52.89 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.23 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the prior year, the company earned $2.25 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that PACCAR will post 8.35 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insiders Place Their Bets

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were 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. In the last ninety days, insiders have 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

Several institutional investors have recently modified their holdings of the business. Miracle Mile Advisors LLC raised its stake in PACCAR by 3.8% during the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after buying an additional 91 shares in the last quarter. Morningstar Investment Management LLC raised its stake in PACCAR by 1.3% during the fourth quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock valued at $740,000 after buying an additional 97 shares in the last quarter. Graypoint LLC raised its stake in PACCAR by 2.9% during the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after buying an additional 99 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in PACCAR by 3.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock valued at $315,000 after buying an additional 100 shares in the last quarter. Finally, Evanson Asset Management LLC raised its stake in PACCAR by 3.5% during the first quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock valued at $400,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

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.