PACCAR Inc. (NASDAQ:PCAR) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• PACCAR has a consensus “Hold” rating from 14 analysts, with 11 holds and three buys. The average 12-month price target is $133.91, versus a recent share price of $117.36.
• The company exceeded quarterly expectations, reporting adjusted EPS of $1.43 versus the $1.36 estimate and revenue of $7.55 billion compared with the $7.05 billion consensus forecast.
• PACCAR insiders sold 56,842 shares worth approximately $7.6 million over the past three months, while institutional investors own 64.9% of the company. The company also pays a quarterly dividend of $0.35, equating to a 1.2% yield.

PACCAR Inc. (NASDAQ:PCAR - Get Free Report) has received a consensus rating of "Hold" from the fourteen analysts that are covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $133.9091.

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of PACCAR in a research note on Tuesday, August 18th. Citigroup lifted their price target on shares of PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Wells Fargo & Company upped their price objective on shares of PACCAR from $125.00 to $157.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Royal Bank Of Canada raised shares of PACCAR from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $130.00 to $150.00 in a research report on Thursday, September 10th. Finally, Truist Financial raised their target price on PACCAR from $126.00 to $131.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd.

Insider Transactions at PACCAR

In related news, CEO R Feight sold 50,975 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the transaction, the chief executive officer directly owned 268,625 shares in the company, valued at $35,745,928.75. This trade represents a 15.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares of the company's stock, valued at approximately $512,970.90. The trade was a 43.06% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. Insiders own 1.99% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC bought a new stake in shares of PACCAR in the 2nd quarter worth approximately $16,286,000. Nomura Asset Management Co. Ltd. grew its holdings in PACCAR by 2.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company's stock valued at $45,281,000 after purchasing an additional 9,524 shares during the period. Geode Capital Management LLC increased its position in PACCAR by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company's stock worth $1,350,867,000 after buying an additional 50,622 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new stake in PACCAR in the first quarter worth $9,273,000. Finally, Mengis Capital Management Inc. raised its stake in shares of PACCAR by 16.1% in the fourth quarter. Mengis Capital Management Inc. now owns 111,486 shares of the company's stock valued at $12,209,000 after buying an additional 15,440 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Trading Down 0.7%

NASDAQ PCAR opened at $117.36 on Friday. The stock has a market capitalization of $61.77 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.35 and a beta of 0.96. The business has a 50 day simple moving average of $127.76 and a 200 day simple moving average of $121.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. PACCAR has a one year low of $92.25 and a one year high of $139.24.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 EPS. Research analysts expect that PACCAR will post 5.91 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 12th. PACCAR's dividend payout ratio (DPR) is 29.41%.

About PACCAR

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.

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