Brokerages Set PACCAR Inc (NASDAQ:PCAR) Target Price at $120.35

PACCAR Inc (NASDAQ:PCAR) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $118.23.

PCAR has been the subject of a number of analyst reports. 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. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Melius Research raised PACCAR to a “strong-buy” rating in a report on Tuesday. Finally, Citigroup reduced their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last ninety days. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

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

PACCAR Stock Performance

NASDAQ PCAR opened at $97.11 on Monday. The stock 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 twelve month low of $90.04 and a twelve month high of $125.50. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $106.29 and a 200 day moving average of $106.40.

PACCAR (NASDAQ:PCAR) last released its quarterly 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%. Sell-side analysts anticipate that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

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

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.