Shares of PACCAR Inc (NASDAQ:PCAR) have been assigned an average rating of “Hold” from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $65.77.
Several research firms have weighed in on PCAR. Zacks Investment Research downgraded shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. BMO Capital Markets upped their price objective on shares of PACCAR to $70.00 and gave the stock a “market perform” rating in a report on Friday, May 17th. Evercore ISI restated an “in-line” rating and set a $31.00 price objective (down previously from $40.00) on shares of Terex in a report on Friday, May 31st. Longbow Research downgraded shares of Rush Enterprises from a “buy” rating to a “neutral” rating in a report on Monday, May 6th. Finally, Loop Capital downgraded shares of Ryder System from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $70.00 to $62.00 in a report on Tuesday, July 2nd.
PCAR traded down $1.77 during trading on Friday, hitting $70.80. 39,498 shares of the company’s stock were exchanged, compared to its average volume of 1,268,922. The company has a current ratio of 2.49, a quick ratio of 2.32 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average price is $70.21. PACCAR has a fifty-two week low of $53.43 and a fifty-two week high of $73.00. The company has a market cap of $24.77 billion, a PE ratio of 11.34, a P/E/G ratio of 1.26 and a beta of 1.25.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 14th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.81%. PACCAR’s dividend payout ratio is currently 20.51%.
In other news, VP David J. Danforth sold 4,315 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $70.69, for a total value of $305,027.35. Following the completion of the sale, the vice president now owns 7,286 shares in the company, valued at $515,047.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP C Michael Dozier sold 12,638 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $69.17, for a total transaction of $874,170.46. Following the completion of the sale, the vice president now owns 8,401 shares of the company’s stock, valued at approximately $581,097.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,301 shares of company stock valued at $1,554,065. 2.32% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in PACCAR by 2.2% during the first quarter. BlackRock Inc. now owns 25,851,876 shares of the company’s stock valued at $1,761,547,000 after buying an additional 554,802 shares during the period. Norges Bank bought a new position in PACCAR during the fourth quarter valued at about $333,867,000. Geode Capital Management LLC grew its position in PACCAR by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock valued at $289,187,000 after buying an additional 350,337 shares during the period. Northern Trust Corp grew its position in PACCAR by 3.3% during the first quarter. Northern Trust Corp now owns 4,137,807 shares of the company’s stock valued at $281,949,000 after buying an additional 132,159 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in PACCAR by 16.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,084,158 shares of the company’s stock valued at $176,244,000 after buying an additional 430,705 shares during the period. Institutional investors own 63.31% 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, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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