Analysts Set PACCAR Inc (NASDAQ:PCAR) PT at $112.73

Shares of PACCAR Inc (NASDAQ:PCAR) have been given an average rating of “Hold” by the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $112.73.

Several analysts recently issued reports on PCAR shares. Evercore ISI cut their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup lowered their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System boosted its holdings in shares of PACCAR by 4.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after acquiring an additional 27,963 shares in the last quarter. BDF Gestion acquired a new position in shares of PACCAR during the 2nd quarter valued at $2,862,000. California State Teachers Retirement System raised its stake in shares of PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after buying an additional 9,978 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of PACCAR by 15.9% in the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after buying an additional 7,678 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in PACCAR by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after buying an additional 105,109 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $95.00 on Thursday. The firm has a 50-day moving average of $98.48 and a two-hundred day moving average of $107.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The stock has a market cap of $49.80 billion, a P/E ratio of 9.85, a PEG ratio of 1.49 and a beta of 0.91. PACCAR has a 1-year low of $80.94 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the business earned $2.33 EPS. PACCAR’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, research analysts expect that PACCAR will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. PACCAR’s payout ratio is currently 12.45%.

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.