PACCAR (NASDAQ:PCAR) Price Target Cut to $115.00 by Analysts at Truist Financial

PACCAR (NASDAQ:PCAR) had its price objective trimmed by Truist Financial from $121.00 to $115.00 in a research note released on Tuesday, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research analysts also recently issued reports on PCAR. Raymond James assumed coverage on shares of PACCAR in a research report on Friday, June 28th. They set a market perform rating on the stock. Royal Bank of Canada initiated coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a sector perform rating and a $123.00 target price on the stock. StockNews.com cut PACCAR from a buy rating to a hold rating in a research note on Thursday, June 27th. UBS Group raised PACCAR from a neutral rating to a buy rating and upped their price target for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, Citigroup initiated coverage on PACCAR in a research note on Wednesday, June 26th. They issued a neutral rating and a $115.00 price target for the company. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $113.92.

PACCAR Stock Performance

PACCAR stock opened at $100.22 on Tuesday. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR has a 1 year low of $80.91 and a 1 year high of $125.50. The company has a market cap of $52.53 billion, a PE ratio of 10.40, a PEG ratio of 1.22 and a beta of 0.92. The company’s 50-day moving average is $106.69 and its two-hundred day moving average is $107.76.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the prior year, the company posted $2.25 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that PACCAR will post 8.34 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.20%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PCAR. PSI Advisors LLC bought a new position in shares of PACCAR in the first quarter valued at $25,000. AdvisorNet Financial Inc grew its stake in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of PACCAR in the first quarter valued at $27,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR in the first quarter valued at $27,000. Finally, Riverview Trust Co bought a new position in shares of PACCAR in the first quarter valued at $29,000. 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.