PACCAR (NASDAQ:PCAR) Stock Rating Lowered by Jefferies Financial Group

Jefferies Financial Group downgraded shares of PACCAR (NASDAQ:PCAR) from a buy rating to a hold rating in a report released on Friday, MarketBeat Ratings reports. The firm currently has $120.00 target price on the stock.

Several other research analysts have also commented on the company. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Citigroup increased their price target on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Truist Financial raised their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and an average price target of $117.83.

PACCAR Trading Down 1.5 %

Shares of PCAR stock opened at $115.88 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $109.14 and a 200-day simple moving average of $103.63. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The stock has a market cap of $60.76 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.86 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 EPS. On average, analysts forecast that PACCAR will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Wednesday, November 13th. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 in the last quarter. Company insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of PACCAR during the second quarter worth about $26,000. Meeder Asset Management Inc. grew its stake in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR in the second quarter worth about $36,000. ORG Partners LLC grew its stake in PACCAR by 7,560.0% in the 2nd quarter. ORG Partners LLC now owns 383 shares of the company’s stock valued at $39,000 after buying an additional 378 shares in the last quarter. Finally, Grove Bank & Trust lifted its holdings in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

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.