PACCAR Inc. (NASDAQ:PCAR) Given Average Rating of "Hold" by Brokerages

Key Points

• PACCAR carries a consensus “Hold” rating from 13 analysts: 11 rate it a hold and two rate it a buy. The average 12-month price target is $131.70.
• PACCAR reported quarterly earnings of $1.43 per share, beating estimates of $1.36, while revenue of $7.55 billion exceeded expectations of $7.05 billion.
• The company declared a quarterly dividend of $0.35 per share, equivalent to a 1.1% annualized yield. Insiders sold approximately $7.6 million worth of shares over the past three months.

Shares of PACCAR Inc. (NASDAQ:PCAR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the thirteen research firms that are covering the company, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $131.70.

Several analysts have recently commented on PCAR shares. Sanford C. Bernstein reiterated an "outperform" rating and set a $148.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Wells Fargo & Company upped their target price on PACCAR from $125.00 to $157.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. increased their price target on PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Finally, Truist Financial boosted their price target on PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $131.03 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The stock has a market capitalization of $68.97 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97. PACCAR has a 1-year low of $92.25 and a 1-year high of $139.24. The business has a fifty day moving average price of $126.48 and a 200 day moving average price of $121.88.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. The business had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company's revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $1.37 EPS. Equities research analysts expect that PACCAR will post 5.89 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR's dividend payout ratio is presently 29.41%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 50,975 shares of the company's 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 of the company's stock, valued at $35,745,928.75. This represents a 15.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of the firm's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the transaction, the chief financial officer owned 1,391 shares of the company's stock, valued at $184,307.50. This trade represents a 58.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 56,842 shares of company stock worth $7,565,677. Corporate insiders own 1.99% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its position in shares of PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company's stock worth $45,281,000 after purchasing an additional 9,524 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PACCAR by 0.4% in the 4th 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. Vanguard Group Inc. increased its stake in PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company's stock worth $6,951,172,000 after buying an additional 363,782 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in PACCAR by 118.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company's stock worth $69,943,000 after buying an additional 345,937 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of PACCAR during the first quarter valued at approximately $9,273,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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