PACCAR (NASDAQ:PCAR) Given “Hold” Rating at Truist Financial

Truist Financial reissued their hold rating on shares of PACCAR (NASDAQ:PCAR) in a research report released on Thursday, Benzinga reports. Truist Financial currently has a $121.00 price target on the stock, up from their prior price target of $117.00.

Several other research firms have also issued reports on PCAR. UBS Group raised shares of PACCAR from a neutral rating to a buy rating and upped their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. The Goldman Sachs Group lifted their price target on PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lowered their price target on PACCAR from $140.00 to $130.00 and set an overweight rating on the stock in a research report on Wednesday. Evercore ISI raised their price objective on PACCAR from $94.00 to $101.00 and gave the company an in-line rating in a research report on Tuesday, February 20th. Finally, Bank of America raised PACCAR from an underperform rating to a neutral rating and boosted their target price for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $112.62.

PACCAR Stock Down 1.6 %

PCAR stock traded down $1.67 during midday trading on Thursday, hitting $104.79. The company’s stock had a trading volume of 3,899,161 shares, compared to its average volume of 2,813,976. The company’s fifty day moving average price is $116.54 and its 200 day moving average price is $102.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 2.21. PACCAR has a twelve month low of $68.40 and a twelve month high of $125.50. The stock has a market capitalization of $54.91 billion, a P/E ratio of 10.87, a PEG ratio of 1.66 and a beta of 0.96.

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

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.15%. PACCAR’s dividend payout ratio is 11.20%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. boosted its stake in PACCAR by 18.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after buying an additional 16,360 shares in the last quarter. abrdn plc increased its position in PACCAR by 50.9% during the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock worth $25,853,000 after purchasing an additional 89,359 shares in the last quarter. Aigen Investment Management LP acquired a new position in PACCAR during the 3rd quarter worth approximately $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in PACCAR by 42.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock valued at $47,518,000 after purchasing an additional 166,628 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in PACCAR by 29.6% in the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after buying an additional 16,390 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.