PACCAR (NASDAQ:PCAR) PT Lowered to $103.00

PACCAR (NASDAQ:PCAR) had its price objective lowered by Truist Financial from $107.00 to $103.00 in a report released on Wednesday, Benzinga reports. The firm currently has a hold rating on the stock.

Several other research firms have also recently commented on PCAR. Raymond James assumed coverage on PACCAR in a research report on Friday, June 28th. They set a market perform rating on the stock. Evercore ISI lowered their target price on PACCAR from $109.00 to $99.00 and set an in-line rating on the stock in a report on Monday, August 19th. Citigroup lowered their target price on PACCAR from $106.00 to $100.00 and set a neutral rating on the stock in a report on Monday, August 12th. StockNews.com raised PACCAR from a hold rating to a buy rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on PACCAR from $121.00 to $109.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $114.00.

PACCAR Price Performance

PCAR opened at $106.80 on Wednesday. The stock has a fifty day simple moving average of $96.64 and a two-hundred day simple moving average of $104.27. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The company has a market cap of $55.99 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. PACCAR has a 12-month low of $80.94 and a 12-month high of $125.50.

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

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.71%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Several institutional investors have recently added to or reduced their stakes in the company. Creative Planning grew its holdings in PACCAR by 2.6% during the 3rd quarter. Creative Planning now owns 74,672 shares of the company’s stock valued at $7,369,000 after buying an additional 1,920 shares in the last quarter. CX Institutional grew its holdings in PACCAR by 3.5% during the 3rd quarter. CX Institutional now owns 11,244 shares of the company’s stock valued at $1,110,000 after buying an additional 382 shares in the last quarter. Grove Bank & Trust grew its holdings in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares in the last quarter. Polianta Ltd purchased a new position in shares of PACCAR in the 3rd quarter worth approximately $1,154,000. Finally, Delta Capital Management LLC purchased a new position in shares of PACCAR in the 3rd quarter worth approximately $3,712,000. Hedge funds and other 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.