PACCAR Inc (NASDAQ:PCAR) Receives $95.62 Average PT from Brokerages

Shares of PACCAR Inc (NASDAQ:PCARGet Rating) have been assigned an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $95.62.

A number of brokerages recently issued reports on PCAR. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PACCAR from $95.00 to $97.00 in a research report on Wednesday, October 26th. Vertical Research cut shares of PACCAR from a “buy” rating to a “hold” rating and lifted their price target for the company from $100.00 to $102.00 in a research report on Wednesday, August 17th. Wolfe Research lowered shares of PACCAR from an “outperform” rating to a “peer perform” rating in a research note on Thursday, November 17th. Raymond James raised their price objective on shares of PACCAR from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 20th. Finally, Morgan Stanley raised their price objective on shares of PACCAR from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 26th.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 491 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $95.00, for a total value of $46,645.00. Following the transaction, the vice president now owns 1,628 shares of the company’s stock, valued at $154,660. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO R Preston Feight sold 13,900 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $95.77, for a total value of $1,331,203.00. Following the transaction, the chief executive officer now owns 62,377 shares of the company’s stock, valued at $5,973,845.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 491 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $95.00, for a total transaction of $46,645.00. Following the completion of the transaction, the vice president now directly owns 1,628 shares in the company, valued at approximately $154,660. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,443 shares of company stock valued at $4,156,381. 2.05% of the stock is owned by insiders.

Hedge Funds Weigh In On PACCAR

Several large investors have recently added to or reduced their stakes in the company. Toroso Investments LLC lifted its holdings in PACCAR by 6.8% during the third quarter. Toroso Investments LLC now owns 4,602 shares of the company’s stock valued at $385,000 after purchasing an additional 295 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in PACCAR during the third quarter valued at approximately $2,714,000. Industrial Alliance Investment Management Inc. lifted its holdings in PACCAR by 3.9% during the third quarter. Industrial Alliance Investment Management Inc. now owns 21,675 shares of the company’s stock valued at $1,814,000 after purchasing an additional 818 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in PACCAR by 608.9% during the third quarter. Glenmede Trust Co. NA now owns 19,226 shares of the company’s stock valued at $1,609,000 after purchasing an additional 16,514 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in PACCAR by 63.7% during the third quarter. Captrust Financial Advisors now owns 27,755 shares of the company’s stock valued at $2,323,000 after purchasing an additional 10,802 shares in the last quarter. Hedge funds and other institutional investors own 64.17% of the company’s stock.

PACCAR Trading Down 0.1 %

NASDAQ:PCAR opened at $105.89 on Friday. The company has a 50-day moving average price of $92.88 and a 200-day moving average price of $88.57. PACCAR has a 12 month low of $77.00 and a 12 month high of $107.18. The company has a current ratio of 2.66, a quick ratio of 2.38 and a debt-to-equity ratio of 0.55. The stock has a market cap of $36.83 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.30 and a beta of 0.90.

PACCAR (NASDAQ:PCARGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.21. PACCAR had a net margin of 9.50% and a return on equity of 21.24%. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period last year, the company posted $1.08 EPS. PACCAR’s revenue was up 41.1% on a year-over-year basis. Equities analysts predict that PACCAR will post 8.15 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 15th will be issued a $0.37 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.40%. PACCAR’s dividend payout ratio (DPR) is presently 19.81%.

PACCAR Company Profile

(Get Rating)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

Further Reading

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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