Brokerages Set PACCAR Inc (NASDAQ:PCAR) Price Target at $121.77

Shares of PACCAR Inc (NASDAQ:PCAR - Get Free Report) have been assigned an average recommendation of "Hold" from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $121.77.

PCAR has been the topic of several research analyst reports. Evercore ISI dropped their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research report on Wednesday. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company's stock, valued at $100,929.63. This represents a 86.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 in the last ninety days. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several hedge funds have recently modified their holdings of PCAR. Mackenzie Financial Corp raised its position in shares of PACCAR by 6.1% during the 4th quarter. Mackenzie Financial Corp now owns 81,219 shares of the company's stock worth $8,448,000 after purchasing an additional 4,703 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of PACCAR during the 4th quarter worth about $10,336,000. Sunbelt Securities Inc. raised its position in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after purchasing an additional 350 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of PACCAR during the 4th quarter worth about $353,000. Finally, JT Stratford LLC raised its position in shares of PACCAR by 4.5% during the 4th quarter. JT Stratford LLC now owns 16,688 shares of the company's stock worth $1,736,000 after purchasing an additional 715 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 2.9 %

Shares of NASDAQ PCAR traded down $3.04 during trading hours on Thursday, hitting $103.42. 741,309 shares of the stock were exchanged, compared to its average volume of 2,244,260. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The company has a market cap of $54.22 billion, a PE ratio of 13.07, a PEG ratio of 2.79 and a beta of 0.92. The firm has a fifty day moving average price of $107.67 and a 200-day moving average price of $105.07. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate 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 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio is 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.