PACCAR Inc (NASDAQ:PCAR) Given Average Rating of "Moderate Buy" by Analysts

Shares of PACCAR Inc (NASDAQ:PCAR - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $110.82.

Several research firms have recently weighed in on PCAR. Morgan Stanley initiated coverage on shares of PACCAR in a research note on Monday, January 8th. They issued an "overweight" rating and a $125.00 price target on the stock. UBS Group upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Evercore ISI raised their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an "in-line" rating in a research note on Tuesday, February 20th. Truist Financial initiated coverage on shares of PACCAR in a research note on Thursday, March 14th. They issued a "hold" rating and a $117.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th.

PACCAR Price Performance

PCAR traded down $0.66 during midday trading on Friday, hitting $111.96. 2,802,497 shares of the company traded hands, compared to its average volume of 2,333,385. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $58.67 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.71 and a beta of 0.92. PACCAR has a 52-week low of $68.40 and a 52-week high of $125.50. The business has a 50 day simple moving average of $116.58 and a two-hundred day simple moving average of $101.77.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.76 earnings per share. On average, equities analysts forecast that PACCAR will post 8.21 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.96%. PACCAR's dividend payout ratio is currently 12.31%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,320 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares of the company's stock, valued at approximately $15,010,719.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Mark C. Pigott sold 74,347 shares of the company's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now directly owns 4,843,277 shares of the company's stock, valued at approximately $493,675,224.61. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the business's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,293 shares of company stock valued at $14,581,337. 2.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

Several institutional investors and hedge funds have recently made changes to their positions in PCAR. Norges Bank purchased a new stake in shares of PACCAR in the 4th quarter worth about $448,288,000. TD Asset Management Inc boosted its position in shares of PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company's stock worth $202,358,000 after buying an additional 1,095,894 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of PACCAR in the 4th quarter worth about $87,441,000. Epoch Investment Partners Inc. boosted its position in shares of PACCAR by 113.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company's stock worth $103,408,000 after buying an additional 562,571 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of PACCAR by 226.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 574,690 shares of the company's stock worth $71,198,000 after buying an additional 398,804 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

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.