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

PACCAR (NASDAQ:PCAR) had its price objective cut by Evercore ISI from $129.00 to $127.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. Citigroup decreased their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Finally, Morgan Stanley reduced their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $121.77.

PACCAR Stock Performance

Shares of PCAR stock opened at $104.46 on Wednesday. The stock has a market cap 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. The business has a 50-day simple moving average of $107.50 and a 200-day simple moving average of $105.16. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. PACCAR has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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 net margin of 12.36% and a return on equity of 23.53%. On average, equities analysts expect that PACCAR will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is 16.69%.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently made changes to their positions in PCAR. Norges Bank purchased a new stake in shares of PACCAR in the fourth quarter valued at approximately $526,922,000. Wellington Management Group LLP grew its position in shares of PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock valued at $557,453,000 after purchasing an additional 4,219,964 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at approximately $254,651,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

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.