PACCAR Inc (NASDAQ:PCAR) Given Consensus Recommendation of "Hold" by Analysts

Shares of PACCAR Inc (NASDAQ:PCAR - Get Free Report) have earned a consensus recommendation of "Hold" from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $118.50.

Several research analysts have recently commented on PCAR shares. Citigroup lifted their price target on shares of PACCAR from $120.00 to $125.00 and gave the company a "neutral" rating in a report on Monday, December 9th. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. BNP Paribas upgraded PACCAR to a "hold" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI raised PACCAR from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 27,191 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares of the company's stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin D. Baney sold 9,894 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now owns 7,121 shares in the company, valued at approximately $761,947. The trade was a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 over the last quarter. Corporate insiders own 2.02% of the company's stock.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently made changes to their positions in PCAR. Wellington Management Group LLP boosted its position in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Renaissance Technologies LLC purchased a new position in PACCAR during the second quarter valued at approximately $88,437,000. Finally, Erste Asset Management GmbH acquired a new position in PACCAR in the 3rd quarter valued at approximately $63,186,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Up 0.4 %

NASDAQ PCAR traded up $0.41 during mid-day trading on Wednesday, reaching $104.02. 1,311,381 shares of the company's stock traded hands, compared to its average volume of 2,566,123. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market cap of $54.54 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 1.77 and a beta of 0.91. The company has a fifty day simple moving average of $111.03 and a 200-day simple moving average of $103.82.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 EPS. As a group, equities research analysts expect that PACCAR will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be paid a $3.00 dividend. This is a positive change from PACCAR's previous dividend of $0.89. The ex-dividend date is Friday, December 20th. PACCAR's dividend payout ratio is currently 14.75%.

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.