PACCAR (NASDAQ:PCAR) Stock Rating Lowered by UBS Group

UBS Group cut shares of PACCAR (NASDAQ:PCAR - Free Report) from a buy rating to a neutral rating in a report published on Tuesday, MarketBeat reports. The brokerage currently has $108.00 target price on the stock, down from their prior target price of $124.00.

A number of other analysts have also recently weighed in on the stock. Citigroup dropped their target price on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday. Evercore ISI dropped their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $118.23.

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PACCAR Stock Performance

Shares of NASDAQ:PCAR traded down $1.21 on Tuesday, reaching $97.11. 8,554,751 shares of the company's stock were exchanged, compared to its average volume of 2,530,202. The firm has a market capitalization of $50.96 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.77 and a beta of 0.91. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The business's 50-day moving average is $106.29 and its two-hundred day moving average is $106.40. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. As a group, equities research analysts forecast that PACCAR will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is currently 16.69%.

Insider Activity at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the firm's 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 completion of the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Harrie Schippers sold 28,676 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 in the last 90 days. Corporate insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

Several large investors have recently made changes to their positions in PCAR. Principal Financial Group Inc. boosted its position in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after purchasing an additional 178,813 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of PACCAR by 45,433.3% in the third quarter. Quest Partners LLC now owns 2,732 shares of the company's stock worth $270,000 after buying an additional 2,726 shares during the period. Caprock Group LLC boosted its holdings in shares of PACCAR by 18.4% in the third quarter. Caprock Group LLC now owns 24,728 shares of the company's stock worth $2,440,000 after buying an additional 3,835 shares during the period. LGT Capital Partners LTD. boosted its holdings in shares of PACCAR by 32.0% in the third quarter. LGT Capital Partners LTD. now owns 574,965 shares of the company's stock worth $56,738,000 after buying an additional 139,270 shares during the period. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of PACCAR by 73.9% in the third quarter. Banque Cantonale Vaudoise now owns 10,291 shares of the company's stock worth $1,016,000 after buying an additional 4,372 shares during the period. 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.