PACCAR Inc (NASDAQ:PCAR) Receives $118.50 Consensus PT from Brokerages

Shares of PACCAR Inc (NASDAQ:PCAR) have received an average rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $118.50.

Several research firms have recently weighed in on PCAR. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley lowered their price objective 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. Finally, Citigroup raised their target price on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, December 9th.

PACCAR Stock Performance

Shares of PACCAR stock opened at $104.90 on Wednesday. PACCAR has a 1 year low of $90.04 and a 1 year high of $125.50. The firm’s 50-day moving average is $111.00 and its 200 day moving average is $103.82. The stock has a market cap of $55.00 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. Sell-side analysts anticipate that PACCAR will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 14.75%.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred 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 directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in PACCAR by 53.3% in 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 during the period. Massachusetts Financial Services Co. MA lifted its position in shares of PACCAR by 47.8% in 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 period. Dimensional Fund Advisors LP raised its position in shares of PACCAR by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after acquiring an additional 171,317 shares in the last quarter. Fisher Asset Management LLC lifted its position 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 valued at $511,254,000 after buying an additional 89,245 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of PACCAR by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after buying an additional 242,435 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Company Profile

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.