ValuEngine Lowers PACCAR Inc. (PCAR) to Hold

ValuEngine lowered shares of PACCAR Inc. (NASDAQ:PCAR) from a buy rating to a hold rating in a research report report published on Tuesday.

A number of other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of PACCAR from a sell rating to a strong sell rating in a report on Saturday, June 24th. Zacks Investment Research raised shares of PACCAR from a hold rating to a buy rating and set a $74.00 price target on the stock in a report on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) raised shares of PACCAR from a neutral rating to a buy rating and set a $79.00 price target on the stock in a report on Thursday, June 15th. Buckingham Research initiated coverage on shares of PACCAR in a report on Tuesday, September 5th. They issued a neutral rating and a $65.00 price target on the stock. Finally, Citigroup Inc. raised their price target on shares of PACCAR from $74.00 to $78.00 and gave the stock a buy rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. PACCAR presently has an average rating of Hold and a consensus price target of $75.42.

PACCAR (NASDAQ PCAR) traded up 0.03% during trading on Tuesday, reaching $72.95. 781,328 shares of the company traded hands. The firm’s 50 day moving average price is $69.80 and its 200 day moving average price is $66.74. PACCAR has a 12-month low of $53.38 and a 12-month high of $74.79. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 19.53 and a beta of 1.18.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. Equities research analysts expect that PACCAR will post $4.02 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. PACCAR’s dividend payout ratio (DPR) is currently 26.74%.

In related news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.64% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PCAR. BlackRock Inc. lifted its position in PACCAR by 2,119.4% during the 1st quarter. BlackRock Inc. now owns 23,936,276 shares of the company’s stock valued at $1,608,519,000 after acquiring an additional 22,857,778 shares during the period. Principal Financial Group Inc. lifted its position in PACCAR by 381.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after acquiring an additional 2,038,761 shares during the period. Renaissance Technologies LLC purchased a new position in PACCAR during the 2nd quarter valued at about $82,298,000. Vanguard Group Inc. lifted its position in PACCAR by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock valued at $1,621,636,000 after acquiring an additional 1,164,896 shares during the period. Finally, Victory Capital Management Inc. lifted its position in PACCAR by 59.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,660,654 shares of the company’s stock valued at $175,710,000 after acquiring an additional 991,171 shares during the period. 62.13% of the stock is owned by institutional investors.

PACCAR Company Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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