PACCAR (NASDAQ:PCAR) Price Target Raised to $112.00 at Truist Financial

PACCAR (NASDAQ:PCAR - Free Report) had its target price raised by Truist Financial from $110.00 to $112.00 in a report published on Thursday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada restated a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Evercore ISI raised shares of PACCAR from an "in-line" rating to an "outperform" rating and upped their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Morgan Stanley decreased their price objective on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Finally, Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, PACCAR has a consensus rating of "Hold" and a consensus price target of $120.13.

PACCAR Stock Down 0.1 %

Shares of PCAR traded down $0.15 during midday trading on Thursday, reaching $109.48. 1,891,396 shares of the company were exchanged, compared to its average volume of 2,178,950. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The stock has a 50-day moving average price of $111.24 and a 200-day moving average price of $103.93. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market cap of $57.40 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.72 and a beta of 0.93.

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 analysts' consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analysts' expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 EPS. Research analysts expect that PACCAR will post 7.92 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. This is a boost from PACCAR's previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR's dividend payout ratio is presently 13.41%.

Insider Activity at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company's stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last 90 days. Corporate insiders own 2.02% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCAR. Wellington Management Group LLP lifted its holdings in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Erste Asset Management GmbH bought a new stake in PACCAR during the third quarter worth approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in PACCAR by 115.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company's stock worth $106,047,000 after buying an additional 576,532 shares during 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.