Brokerages Set PACCAR Inc (NASDAQ:PCAR) Target Price at $121.23

Shares of PACCAR Inc (NASDAQ:PCAR) have been assigned an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $121.23.

A number of analysts have recently issued reports on PCAR shares. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Finally, Citigroup decreased their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of PACCAR by 17.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 728 shares of the company’s stock valued at $72,000 after acquiring an additional 109 shares during the last quarter. Public Sector Pension Investment Board increased its stake in PACCAR by 73.2% in the second quarter. Public Sector Pension Investment Board now owns 20,150 shares of the company’s stock valued at $2,074,000 after purchasing an additional 8,517 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in PACCAR in the second quarter valued at approximately $395,000. MBB Public Markets I LLC acquired a new stake in PACCAR during the second quarter worth approximately $3,823,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of PACCAR by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 361,267 shares of the company’s stock worth $37,189,000 after buying an additional 10,155 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 2.4 %

Shares of NASDAQ:PCAR opened at $107.25 on Friday. PACCAR has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a market cap of $56.23 billion, a P/E ratio of 11.98, a PEG ratio of 2.77 and a beta of 0.93. The business has a fifty day moving average of $110.51 and a two-hundred day moving average of $104.42. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

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 analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. On average, research analysts expect that PACCAR will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 13.41%.

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.