Deutsche Bank Aktiengesellschaft Trims PACCAR (NASDAQ:PCAR) Target Price to $109.00

PACCAR (NASDAQ:PCAR) had its target price decreased by Deutsche Bank Aktiengesellschaft from $121.00 to $109.00 in a research report report published on Wednesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada initiated coverage on PACCAR in a research note on Tuesday, March 26th. They issued a sector perform rating and a $123.00 price target for the company. The Goldman Sachs Group increased their price target on PACCAR from $106.00 to $121.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Raymond James initiated coverage on PACCAR in a research note on Friday, June 28th. They issued a market perform rating for the company. JPMorgan Chase & Co. dropped their price target on PACCAR from $135.00 to $115.00 and set an overweight rating for the company in a research note on Wednesday. Finally, StockNews.com raised PACCAR from a hold rating to a buy rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has a consensus rating of Hold and a consensus price target of $114.27.

PACCAR Trading Up 1.7 %

Shares of PCAR stock opened at $99.24 on Wednesday. The stock’s fifty day moving average price is $105.33 and its two-hundred day moving average price is $108.61. The company has a market cap of $52.02 billion, a PE ratio of 10.29, a P/E/G ratio of 1.53 and a beta of 0.92. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 1.81.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same period in the prior year, the business posted $2.33 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts predict that PACCAR will post 8.11 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,040 shares of company stock valued at $4,779,241. Corporate insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Several large investors have recently made changes to their positions in PCAR. PSI Advisors LLC acquired a new position in PACCAR during the 1st quarter valued at about $25,000. AdvisorNet Financial Inc boosted its stake in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in PACCAR during the 1st quarter valued at about $27,000. New Covenant Trust Company N.A. acquired a new position in PACCAR during the 1st quarter valued at about $27,000. Finally, Riverview Trust Co acquired a new position in PACCAR during the 1st quarter valued at about $29,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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.