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

PACCAR (NASDAQ:PCAR) had its price objective increased by Truist Financial from $103.00 to $107.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Citigroup raised their price objective on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley reduced their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday. Raymond James started coverage on shares of PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Evercore ISI reduced their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $114.18.

PACCAR Stock Down 0.9 %

Shares of PACCAR stock opened at $103.80 on Wednesday. PACCAR has a twelve month low of $80.94 and a twelve month high of $125.50. The stock has a market cap of $54.41 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average price of $98.98 and a 200 day moving average price of $103.41.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 earnings per share. Equities research analysts forecast that PACCAR will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 12.71%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

Several large investors have recently made changes to their positions in PCAR. Riverview Trust Co bought a new position in PACCAR in the 1st quarter worth approximately $29,000. Vanguard Capital Wealth Advisors acquired a new position in PACCAR during the 1st quarter worth $213,000. Hennessy Advisors Inc. bought a new position in shares of PACCAR in the first quarter worth $3,605,000. Indiana Trust & Investment Management CO grew its stake in shares of PACCAR by 337.9% in the first quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock worth $67,000 after purchasing an additional 419 shares in the last quarter. Finally, OneAscent Wealth Management LLC acquired a new position in shares of PACCAR during the first quarter valued at $225,000. 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.