PACCAR (NASDAQ:PCAR) Receives Hold Rating from Truist Financial

Truist Financial reiterated their hold rating on shares of PACCAR (NASDAQ:PCAR) in a research note published on Thursday morning, Benzinga reports. Truist Financial currently has a $121.00 target price on the stock, up from their prior target price of $117.00.

Several other equities analysts also recently commented on the stock. Evercore ISI upped their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an in-line rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. cut their price objective on PACCAR from $140.00 to $130.00 and set an overweight rating on the stock in a research report on Wednesday. TD Cowen upped their target price on PACCAR from $91.00 to $108.00 and gave the company a market perform rating in a report on Wednesday, January 24th. Bank of America raised shares of PACCAR from an underperform rating to a neutral rating and boosted their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Finally, UBS Group raised shares of PACCAR from a neutral rating to a buy rating and raised their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $112.62.

PACCAR Trading Down 1.6 %

PCAR stock traded down $1.67 during trading on Thursday, hitting $104.79. 3,899,161 shares of the company traded hands, compared to its average volume of 2,813,976. The company has a 50-day moving average of $116.54 and a 200-day moving average of $102.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 1.69. PACCAR has a 1 year low of $68.40 and a 1 year high of $125.50. The firm has a market capitalization of $54.91 billion, a PE ratio of 10.87, a P/E/G ratio of 1.66 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Analysts predict that PACCAR will post 8.24 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.15%. This is an increase from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is presently 11.20%.

Insider Buying and Selling at PACCAR

In other news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Institutional Trading of PACCAR

A number of institutional investors and hedge funds have recently modified their holdings of the business. PSI Advisors LLC bought a new stake in PACCAR in the 1st quarter worth about $25,000. OFI Invest Asset Management bought a new stake in shares of PACCAR in the third quarter worth approximately $26,000. AdvisorNet Financial Inc raised its holdings in shares of PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in PACCAR during the first quarter valued at approximately $27,000. Finally, Riverview Trust Co purchased a new stake in PACCAR in the first quarter worth approximately $29,000. 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.