PACCAR (NASDAQ:PCAR) Given New $127.00 Price Target at Evercore ISI

PACCAR (NASDAQ:PCAR - Free Report) had its price target decreased by Evercore ISI from $129.00 to $127.00 in a research report released on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased 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. Truist Financial increased their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated 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 cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of "Moderate Buy" and an average price target of $121.77.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded down $2.00 during midday trading on Wednesday, reaching $104.46. 2,978,752 shares of the company's stock were exchanged, compared to its average volume of 2,311,501. The company's 50 day simple moving average is $107.67 and its two-hundred day simple moving average is $105.07. The firm has a market capitalization of $54.77 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data 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%. Equities research analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. 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 16.69%.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new position in PACCAR during the 4th quarter worth approximately $37,000. Sunbelt Securities Inc. boosted its stake in 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 acquiring an additional 350 shares during the last quarter. Kestra Investment Management LLC bought a new position in PACCAR during the 4th quarter worth approximately $37,000. Finally, Atala Financial Inc bought a new position in PACCAR during the 4th quarter worth approximately $43,000. Institutional investors own 64.90% of the company's stock.

PACCAR Company Profile

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.