PACCAR (NASDAQ:PCAR) Cut to Neutral at UBS Group

UBS Group lowered shares of PACCAR (NASDAQ:PCAR) from a buy rating to a neutral rating in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has $108.00 price target on the stock, down from their prior price target of $124.00.

A number of other research firms have also recently weighed in on PCAR. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Evercore ISI reduced 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. Truist Financial increased their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group cut 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 analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

PACCAR Stock Performance

NASDAQ:PCAR opened at $98.32 on Tuesday. 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 50-day moving average of $106.48 and a two-hundred day moving average of $106.40. The stock has a market cap of $51.60 billion, a P/E ratio of 12.43, a PEG ratio of 2.77 and a beta of 0.91. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. On average, research analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

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

Insiders Place Their Bets

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 over the last quarter. Insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Geode Capital Management LLC increased its stake in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock valued at $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the period. FMR LLC increased its stake in shares of PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after purchasing an additional 167,165 shares during the period. Finally, Northern Trust Corp increased its stake in shares of PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock valued at $749,189,000 after purchasing an additional 565,967 shares during the period. Institutional investors and hedge funds 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.