BidaskClub upgraded shares of PACCAR (NASDAQ:PCAR) from a hold rating to a buy rating in a report issued on Thursday morning.
Several other research analysts have also recently commented on PCAR. Zacks Investment Research raised PACCAR from a hold rating to a buy rating and set a $64.00 price target for the company in a research report on Thursday, October 25th. Citigroup increased their price target on PACCAR from $65.00 to $67.00 and gave the company a neutral rating in a research report on Wednesday, July 25th. Credit Suisse Group cut their price objective on PACCAR from $70.00 to $69.00 and set a neutral rating for the company in a research report on Wednesday, July 25th. ValuEngine raised PACCAR from a strong sell rating to a sell rating in a research report on Thursday, November 1st. Finally, Robert W. Baird raised their price objective on PACCAR from $56.00 to $59.00 and gave the company an underperform rating in a research report on Wednesday, July 25th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $68.87.
Shares of NASDAQ PCAR opened at $60.05 on Thursday. PACCAR has a 52 week low of $53.95 and a 52 week high of $79.69. The company has a quick ratio of 2.44, a current ratio of 2.63 and a debt-to-equity ratio of 0.72. The company has a market cap of $21.05 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.90 and a beta of 1.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.87%. PACCAR’s payout ratio is 26.29%.
In related news, insider Mark C. Pigott sold 194,004 shares of PACCAR stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $58.84, for a total transaction of $11,415,195.36. Following the completion of the sale, the insider now directly owns 3,080,449 shares of the company’s stock, valued at approximately $181,253,619.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Douglas S. Grandstaff sold 607 shares of PACCAR stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $59.67, for a total value of $36,219.69. Following the sale, the vice president now directly owns 5,284 shares of the company’s stock, valued at $315,296.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,262 shares of company stock valued at $11,490,110. Insiders own 2.64% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PCAR. Valeo Financial Advisors LLC lifted its holdings in PACCAR by 85.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock worth $123,000 after purchasing an additional 990 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in PACCAR by 5,888.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock worth $126,000 after purchasing an additional 2,002 shares during the last quarter. Amussen Hunsaker Associates LLC acquired a new stake in PACCAR during the 2nd quarter worth approximately $132,000. HighPoint Advisor Group LLC acquired a new stake in PACCAR during the 3rd quarter worth approximately $178,000. Finally, Boltwood Capital Management acquired a new stake in PACCAR during the 3rd quarter worth approximately $204,000. 61.26% of the stock is owned by institutional investors and hedge funds.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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