PACCAR (NASDAQ:PCAR) Price Target Raised to $100.00

PACCAR (NASDAQ:PCAR - Free Report) had its price objective hoisted by Citigroup from $95.00 to $100.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently weighed in on PCAR. Evercore ISI lowered their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Truist Financial decreased their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $104.59.

PACCAR Stock Up 0.0%

NASDAQ:PCAR traded up $0.05 during trading hours on Tuesday, hitting $94.93. The stock had a trading volume of 1,169,228 shares, compared to its average volume of 2,743,015. The company has a market cap of $49.83 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 3.48 and a beta of 0.95. The business has a 50 day simple moving average of $92.56 and a two-hundred day simple moving average of $99.87. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. PACCAR's revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.27 EPS. Analysts predict that PACCAR will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.39%. The ex-dividend date was Wednesday, May 14th. PACCAR's payout ratio is presently 20.00%.

Insiders Place Their Bets

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, the director now directly owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. grew its position in shares of PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock valued at $8,916,000 after acquiring an additional 6,494 shares during the period. LPL Financial LLC raised its stake in PACCAR by 6.1% in the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company's stock valued at $22,094,000 after buying an additional 12,143 shares during the period. American Century Companies Inc. raised its stake in PACCAR by 15.8% in the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company's stock valued at $65,675,000 after buying an additional 86,215 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of PACCAR by 15.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock valued at $77,404,000 after buying an additional 104,281 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of PACCAR by 20.8% during the 4th quarter. Natixis Advisors LLC now owns 1,042,761 shares of the company's stock worth $108,468,000 after acquiring an additional 179,577 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

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.