PACCAR (NASDAQ:PCAR) Price Target Raised to $113.00 at Truist Financial

PACCAR (NASDAQ:PCAR - Free Report) had its price objective lifted by Truist Financial from $112.00 to $113.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other analysts have also recently weighed in on the company. Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. BNP Paribas raised PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of PACCAR from $122.00 to $125.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $121.32.

PACCAR Trading Up 3.4 %

NASDAQ PCAR traded up $3.64 on Wednesday, reaching $110.89. The company had a trading volume of 3,747,127 shares, compared to its average volume of 2,420,323. The business has a 50 day moving average of $110.45 and a two-hundred day moving average of $104.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The firm has a market cap of $58.14 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 2.77 and a beta of 0.93. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%. Analysts forecast that PACCAR will post 7.93 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is presently 13.41%.

Insiders Place Their Bets

In related news, 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 sale, the chief executive officer now owns 171,776 shares of the company's stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Avestar Capital LLC grew its position in PACCAR by 13.8% in the fourth quarter. Avestar Capital LLC now owns 3,086 shares of the company's stock worth $330,000 after buying an additional 375 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in PACCAR in the 4th quarter valued at approximately $1,851,000. Lester Murray Antman dba SimplyRich boosted its position in PACCAR by 1.0% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 19,808 shares of the company's stock valued at $2,060,000 after purchasing an additional 204 shares during the last quarter. Certuity LLC acquired a new position in PACCAR in the fourth quarter worth approximately $279,000. Finally, Arlington Trust Co LLC lifted its stake in shares of PACCAR by 221.6% in the 4th quarter. Arlington Trust Co LLC now owns 1,119 shares of the company's stock valued at $116,000 after purchasing an additional 771 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

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.