PACCAR (NASDAQ:PCAR) Price Target Cut to $107.00 by Analysts at Truist Financial

PACCAR (NASDAQ:PCAR) had its price objective reduced by Truist Financial from $115.00 to $107.00 in a research report released on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a sector perform rating and a $123.00 price objective for the company. Raymond James began coverage on shares of PACCAR in a research report on Friday, June 28th. They set a market perform rating for the company. Citigroup began coverage on shares of PACCAR in a research report on Wednesday, June 26th. They set a neutral rating and a $115.00 price objective for the company. StockNews.com raised shares of PACCAR from a hold rating to a buy rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $114.27.

PACCAR Stock Up 1.7 %

PACCAR stock opened at $99.24 on Wednesday. The company’s 50 day simple moving average is $105.33 and its 200 day simple moving average is $108.61. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The firm has a market capitalization of $52.02 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.51 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.81 and a quick ratio of 2.49.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. PACCAR’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the business earned $2.33 earnings per share. As a group, sell-side analysts anticipate that PACCAR will post 8.11 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.21%. PACCAR’s dividend payout ratio is 12.45%.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock valued at $4,779,241 over the last quarter. 2.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. HB Wealth Management LLC raised its stake in PACCAR by 31.1% during the second quarter. HB Wealth Management LLC now owns 30,468 shares of the company’s stock worth $3,136,000 after acquiring an additional 7,229 shares in the last quarter. Argonautica Private Wealth Management Inc. raised its stake in PACCAR by 16.9% during the second quarter. Argonautica Private Wealth Management Inc. now owns 2,770 shares of the company’s stock worth $285,000 after acquiring an additional 401 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in PACCAR by 1.9% during the second quarter. Checchi Capital Advisers LLC now owns 6,012 shares of the company’s stock worth $619,000 after acquiring an additional 110 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of PACCAR by 8.0% in the second quarter. Atomi Financial Group Inc. now owns 7,676 shares of the company’s stock valued at $790,000 after buying an additional 571 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of PACCAR by 37.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 787,477 shares of the company’s stock valued at $81,063,000 after buying an additional 212,787 shares during the period. Institutional investors and hedge funds 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.