Deutsche Bank Aktiengesellschaft Trims PACCAR (NASDAQ:PCAR) Target Price to $109.00

PACCAR (NASDAQ:PCAR) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $121.00 to $109.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also issued reports on PCAR. Truist Financial dropped their target price on shares of PACCAR from $115.00 to $107.00 and set a hold rating on the stock in a report on Wednesday. The Goldman Sachs Group boosted their price target on PACCAR from $106.00 to $121.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Citigroup initiated coverage on shares of PACCAR in a research report on Wednesday, June 26th. They set a neutral rating and a $115.00 price objective for the company. Royal Bank of Canada began coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a sector perform rating and a $123.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $135.00 to $115.00 and set an overweight rating on the stock in a report on Wednesday. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of Hold and a consensus price target of $114.27.

PACCAR Trading Up 1.7 %

NASDAQ PCAR opened at $99.24 on Wednesday. The firm has a market capitalization of $52.02 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. The business’s 50-day moving average price is $105.33 and its two-hundred day moving average price is $108.52. The company has a current ratio of 1.81, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR has a 12 month low of $80.94 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter in the previous year, the company earned $2.33 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. On average, analysts expect that PACCAR will post 8.11 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.21%. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Insider Transactions at PACCAR

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 transaction of $226,129.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock valued at $4,779,241 over the last ninety days. 2.02% of the stock is currently owned by insiders.

Institutional Trading of PACCAR

Hedge funds have recently made changes to their positions in the company. Brookstone Capital Management bought a new position in PACCAR during the fourth quarter worth about $224,000. HB Wealth Management LLC boosted its holdings in PACCAR by 15.9% in the fourth quarter. HB Wealth Management LLC now owns 5,797 shares of the company’s stock valued at $566,000 after acquiring an additional 796 shares in the last quarter. Raymond James & Associates raised its holdings in PACCAR by 121.1% in the 4th quarter. Raymond James & Associates now owns 175,990 shares of the company’s stock worth $17,185,000 after purchasing an additional 96,375 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of PACCAR during the 4th quarter valued at about $71,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of PACCAR by 18.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after buying an additional 16,360 shares during the period. 64.90% of the stock is currently owned by 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.