PACCAR’s (PCAR) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of PACCAR (NASDAQ:PCAR) in a report published on Monday, Benzinga reports. The firm currently has a $119.00 price objective on the stock.

PCAR has been the topic of a number of other reports. Truist Financial lifted their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Evercore ISI decreased their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Morgan Stanley cut their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $113.82.

PACCAR Price Performance

Shares of NASDAQ PCAR traded up $1.24 during mid-day trading on Monday, reaching $106.06. The company’s stock had a trading volume of 475,535 shares, compared to its average volume of 2,620,137. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR has a 52 week low of $85.14 and a 52 week high of $125.50. The stock has a fifty day moving average of $100.51 and a two-hundred day moving average of $102.58. The firm has a market capitalization of $55.61 billion, a PE ratio of 11.78, a P/E/G ratio of 1.61 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. As a group, sell-side analysts anticipate that PACCAR will post 8 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACCAR

Several institutional investors have recently made changes to their positions in PCAR. Capital International Investors increased its position in PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares during the period. Renaissance Technologies LLC purchased a new position in PACCAR during the second quarter valued at approximately $88,437,000. Dorsey & Whitney Trust CO LLC lifted its holdings in PACCAR by 3,636.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock worth $67,696,000 after buying an additional 531,794 shares during the period. TD Asset Management Inc boosted its position in PACCAR by 24.3% during the 1st quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after acquiring an additional 504,346 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of PACCAR in the 2nd quarter valued at $51,277,000. Hedge funds and other institutional investors 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.