Citigroup Lowers PACCAR (NASDAQ:PCAR) Price Target to $105.00

PACCAR (NASDAQ:PCAR) had its price target trimmed by Citigroup from $112.00 to $105.00 in a report issued on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also issued reports on PCAR. Evercore ISI lowered their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Finally, Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.54.

PACCAR Stock Up 0.8 %

Shares of NASDAQ PCAR opened at $99.09 on Monday. PACCAR has a 1 year low of $90.04 and a 1 year high of $123.20. The firm has a 50-day simple moving average of $104.48 and a two-hundred day simple moving average of $106.71. The company has a market cap of $52.02 billion, a P/E ratio of 12.53, a PEG ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Research analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.33%. The ex-dividend date was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is 16.69%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCAR. MassMutual Private Wealth & Trust FSB increased its holdings in shares of PACCAR by 11.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,016 shares of the company’s stock valued at $196,000 after acquiring an additional 215 shares in the last quarter. Chancellor Financial Group WB LP purchased a new stake in PACCAR during the 4th quarter worth approximately $210,000. 111 Capital acquired a new position in PACCAR during the 4th quarter valued at approximately $421,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of PACCAR in the fourth quarter worth $42,432,000. Finally, LM Advisors LLC acquired a new stake in shares of PACCAR during the fourth quarter worth $1,022,000. 64.90% of the stock is currently 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.