StockNews.com Lowers PACCAR (NASDAQ:PCAR) to Hold

StockNews.com downgraded shares of PACCAR (NASDAQ:PCAR) from a buy rating to a hold rating in a research note released on Thursday.

A number of other equities research analysts have also issued reports on PCAR. Citigroup started coverage on PACCAR in a research report on Wednesday. They issued a neutral rating and a $115.00 target price on the stock. Truist Financial reissued a hold rating and issued a $121.00 target price (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their target price on PACCAR from $106.00 to $121.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. UBS Group raised PACCAR from a neutral rating to a buy rating and lifted their target price for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. dropped their target price on PACCAR from $140.00 to $130.00 and set an overweight rating on the stock in a research report on Wednesday, May 1st. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, PACCAR currently has a consensus rating of Hold and a consensus price target of $114.38.

PACCAR Trading Down 1.0 %

NASDAQ PCAR opened at $102.94 on Thursday. The firm has a market cap of $53.96 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.59 and a beta of 0.94. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The stock’s 50-day moving average is $107.60 and its 200-day moving average is $107.70. PACCAR has a one year low of $80.64 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. PACCAR’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 earnings per share. Sell-side analysts anticipate that PACCAR will post 8.36 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.30 per share. 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 1.17%. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s payout ratio is currently 12.45%.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The disclosure for this sale can be found here. In the last three months, insiders sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is owned by company insiders.

Institutional Trading of PACCAR

Hedge funds have recently added to or reduced their stakes in the company. PSI Advisors LLC acquired a new stake in PACCAR during the 1st quarter worth approximately $25,000. YHB Investment Advisors Inc. acquired a new stake in PACCAR during the 1st quarter worth approximately $27,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR during the 1st quarter worth approximately $27,000. Riverview Trust Co acquired a new stake in PACCAR during the 1st quarter worth approximately $29,000. Finally, Rise Advisors LLC acquired a new stake in PACCAR during the 1st quarter worth approximately $31,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.