PACCAR (NASDAQ:PCAR) Price Target Raised to $113.00 at Truist Financial

PACCAR (NASDAQ:PCAR) had its price target raised by Truist Financial from $112.00 to $113.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities analysts have also commented on PCAR. Citigroup decreased their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley lowered their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their target price on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.32.

PACCAR Price Performance

PACCAR stock opened at $110.89 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $110.45 and a 200 day moving average price of $104.45. PACCAR has a 12-month low of $90.04 and a 12-month high of $125.50. The stock has a market cap of $58.14 billion, a P/E ratio of 12.39, a PEG ratio of 2.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%. Sell-side analysts anticipate that PACCAR will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 13.41%.

Insider Activity

In other news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of institutional investors and hedge funds have recently bought and sold shares of PCAR. Everence Capital Management Inc. acquired a new stake in shares of PACCAR during the fourth quarter worth about $1,984,000. Sanctuary Advisors LLC grew its stake in PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. increased its position in PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after buying an additional 5,433 shares during the period. Insight Wealth Strategies LLC lifted its stake in PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after buying an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after acquiring an additional 89,245 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

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.