Brokerages Set PACCAR Inc (NASDAQ:PCAR) Price Target at $104.14

Shares of PACCAR Inc (NASDAQ:PCAR - Get Free Report) have been assigned an average rating of "Hold" from the fourteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $104.14.

PCAR has been the topic of several recent analyst reports. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a report on Wednesday, April 16th. Royal Bank of Canada dropped their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Evercore ISI dropped their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Finally, Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Friday, May 9th.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.02% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after buying an additional 193 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of PACCAR during the 1st quarter worth approximately $29,000. Golden State Wealth Management LLC purchased a new position in shares of PACCAR during the 4th quarter valued at approximately $37,000. Finally, Sunbelt Securities Inc. grew its stake in PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Down 0.3%

NASDAQ PCAR traded down $0.27 on Friday, hitting $94.02. The stock had a trading volume of 3,004,870 shares, compared to its average volume of 2,763,226. The business's fifty day moving average price is $92.37 and its 200 day moving average price is $102.69. The stock has a market cap of $49.36 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter last year, the firm earned $2.27 earnings per share. The firm's quarterly revenue was down 16.0% compared to the same quarter last year. Equities research analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.40%. PACCAR's dividend payout ratio is presently 20.00%.

About PACCAR

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.