PACCAR (NASDAQ:PCAR) Downgraded by Jefferies Financial Group to "Hold"

Jefferies Financial Group downgraded shares of PACCAR (NASDAQ:PCAR - Free Report) from a buy rating to a hold rating in a research note published on Friday, MarketBeat.com reports. They currently have $120.00 price objective on the stock.

A number of other analysts also recently issued reports on PCAR. Morgan Stanley dropped their price target on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Truist Financial raised their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Finally, Citigroup raised their price target on PACCAR from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, November 20th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of "Hold" and an average price target of $117.83.

PACCAR Price Performance

Shares of PCAR traded down $1.74 during midday trading on Friday, hitting $115.88. 1,916,387 shares of the company traded hands, compared to its average volume of 2,587,872. The stock has a 50-day moving average of $109.14 and a 200-day moving average of $103.63. The firm has a market cap of $60.76 billion, a P/E ratio of 12.95, a PEG ratio of 1.83 and a beta of 0.91. PACCAR has a one year low of $90.04 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

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

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR's dividend payout ratio (DPR) is presently 13.41%.

Insider Buying and Selling

In related news, SVP Kevin D. Baney sold 9,894 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the transaction, the senior vice president now owns 7,121 shares in the company, valued at $761,947. This represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % 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 three months. 2.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently modified their holdings of PCAR. Security National Bank boosted its position in PACCAR by 4.2% during the 2nd quarter. Security National Bank now owns 2,328 shares of the company's stock valued at $240,000 after acquiring an additional 93 shares in the last quarter. Brookstone Capital Management boosted its position in shares of PACCAR by 4.1% during the second quarter. Brookstone Capital Management now owns 2,366 shares of the company's stock valued at $258,000 after purchasing an additional 94 shares in the last quarter. CVA Family Office LLC boosted its position in shares of PACCAR by 13.3% during the third quarter. CVA Family Office LLC now owns 827 shares of the company's stock valued at $82,000 after purchasing an additional 97 shares in the last quarter. Omnia Family Wealth LLC grew its stake in PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company's stock worth $394,000 after purchasing an additional 98 shares during the period. Finally, Grove Bank & Trust raised its holdings in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock worth $46,000 after purchasing an additional 103 shares in the last quarter. Institutional investors 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.