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

PACCAR Inc (NASDAQ:PCAR - Get Free Report) has earned a consensus recommendation of "Hold" from the fourteen ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $108.59.

A number of research analysts have weighed in on PCAR shares. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI cut their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Truist Financial lowered their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Citigroup cut their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their target price on PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by corporate insiders.

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Institutional Investors Weigh In On PACCAR

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC raised its holdings in PACCAR by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after acquiring an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA lifted its position in PACCAR by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after acquiring an additional 572,231 shares during the last quarter. FMR LLC boosted its holdings in shares of PACCAR by 1.9% during the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock worth $914,509,000 after acquiring an additional 167,165 shares during the period. Finally, Northern Trust Corp grew its position in shares of PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after purchasing an additional 565,967 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Trading Down 0.8 %

Shares of PCAR traded down $0.70 during trading hours on Friday, reaching $88.12. The stock had a trading volume of 160,292 shares, compared to its average volume of 2,736,908. The firm has a 50-day moving average of $100.20 and a 200 day moving average of $106.03. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company has a market cap of $46.26 billion, a P/E ratio of 11.13, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR has a 52 week low of $85.10 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, sell-side analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is presently 16.69%.

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.