PACCAR (NASDAQ:PCAR) Rating Lowered to “Neutral” at UBS Group

UBS Group lowered shares of PACCAR (NASDAQ:PCAR) from a buy rating to a neutral rating in a research note published on Tuesday morning, MarketBeat reports. UBS Group currently has $108.00 price objective on the stock, down from their previous price objective of $124.00.

Several other research analysts have also issued reports on the stock. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI decreased their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.23.

PACCAR Price Performance

NASDAQ PCAR opened at $98.32 on Tuesday. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market capitalization of $51.60 billion, a PE ratio of 12.43, a P/E/G ratio of 2.77 and a beta of 0.91. The company’s 50 day simple moving average is $106.48 and its 200 day simple moving average is $106.40.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities research analysts forecast that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Buying and Selling at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. Company insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PCAR. Principal Financial Group Inc. raised its holdings in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares in the last quarter. Quest Partners LLC raised its holdings in shares of PACCAR by 45,433.3% during the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock valued at $270,000 after purchasing an additional 2,726 shares in the last quarter. Caprock Group LLC raised its holdings in shares of PACCAR by 18.4% during the 3rd quarter. Caprock Group LLC now owns 24,728 shares of the company’s stock valued at $2,440,000 after purchasing an additional 3,835 shares in the last quarter. LGT Capital Partners LTD. raised its holdings in shares of PACCAR by 32.0% during the 3rd quarter. LGT Capital Partners LTD. now owns 574,965 shares of the company’s stock valued at $56,738,000 after purchasing an additional 139,270 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in shares of PACCAR by 73.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 10,291 shares of the company’s stock valued at $1,016,000 after purchasing an additional 4,372 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

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.