Citigroup Cuts PACCAR (NASDAQ:PCAR) Price Target to $115.00

PACCAR (NASDAQ:PCAR) had its price objective cut by Citigroup from $125.00 to $115.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley decreased their price objective 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. JPMorgan Chase & Co. boosted their target price on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $116.00 to $121.50 in a report on Tuesday. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $120.13.

PACCAR Stock Down 0.1 %

Shares of NASDAQ PCAR opened at $109.48 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company has a 50-day moving average price of $111.24 and a 200-day moving average price of $103.93. The stock has a market capitalization of $57.40 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.72 and a beta of 0.93. PACCAR has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly 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 the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 EPS. On average, equities research analysts forecast that PACCAR will post 7.92 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred 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 directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. grew its holdings in PACCAR by 0.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 25,972 shares of the company’s stock valued at $2,702,000 after buying an additional 167 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of PACCAR by 5.6% in the fourth quarter. Ballentine Partners LLC now owns 6,203 shares of the company’s stock valued at $645,000 after acquiring an additional 327 shares during the period. Smart Money Group LLC grew its stake in PACCAR by 7.6% during the fourth quarter. Smart Money Group LLC now owns 6,174 shares of the company’s stock valued at $642,000 after acquiring an additional 438 shares in the last quarter. Clarius Group LLC increased its holdings in PACCAR by 0.8% during the 4th quarter. Clarius Group LLC now owns 2,329,473 shares of the company’s stock worth $242,312,000 after acquiring an additional 17,499 shares during the period. Finally, J2 Capital Management Inc purchased a new stake in PACCAR in the 4th quarter worth approximately $525,000. 64.90% of the stock is currently owned by institutional investors.

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.