Seaport Global Securities restated their neutral rating on shares of PACCAR (NASDAQ:PCAR) in a research report sent to investors on Tuesday. Seaport Global Securities also issued estimates for PACCAR’s Q4 2017 earnings at $1.09 EPS, FY2017 earnings at $4.17 EPS, Q1 2018 earnings at $1.25 EPS, Q2 2018 earnings at $1.26 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.14 EPS, FY2018 earnings at $4.90 EPS and FY2019 earnings at $4.96 EPS.
Several other research analysts have also issued reports on the company. Deutsche Bank reiterated a hold rating and set a $78.00 price objective (up from $75.00) on shares of PACCAR in a research note on Monday, October 9th. Piper Jaffray Companies set a $67.00 price objective on PACCAR and gave the stock a hold rating in a research note on Sunday, December 10th. ValuEngine lowered PACCAR from a buy rating to a hold rating in a research note on Friday, November 17th. Jefferies Group reiterated a buy rating and set a $85.00 price objective on shares of PACCAR in a research note on Thursday, October 19th. Finally, Zacks Investment Research lowered PACCAR from a buy rating to a hold rating in a research note on Monday, December 11th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $75.58.
Shares of PACCAR (PCAR) traded down $0.14 during mid-day trading on Tuesday, reaching $76.40. The company had a trading volume of 1,671,403 shares, compared to its average volume of 2,332,808. The company has a market capitalization of $26,860.00, a PE ratio of 19.59, a P/E/G ratio of 1.61 and a beta of 1.22. PACCAR has a 52-week low of $61.93 and a 52-week high of $77.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56.
The company also recently disclosed a special dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 14th were given a $1.20 dividend. The ex-dividend date was Wednesday, December 13th. This represents a yield of 1.4%. PACCAR’s payout ratio is 25.64%.
In related news, VP C Michael Dozier sold 3,618 shares of PACCAR stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.02, for a total value of $249,714.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark C. Pigott sold 98,956 shares of PACCAR stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $71.37, for a total value of $7,062,489.72. Following the completion of the sale, the insider now owns 2,985,401 shares of the company’s stock, valued at $213,068,069.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,598 shares of company stock valued at $7,597,908. Corporate insiders own 2.64% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PCAR. Oppenheimer & Co. Inc. increased its position in PACCAR by 8.3% in the second quarter. Oppenheimer & Co. Inc. now owns 3,360 shares of the company’s stock worth $222,000 after purchasing an additional 257 shares during the period. CIBC World Markets Inc. boosted its holdings in PACCAR by 2.2% during the second quarter. CIBC World Markets Inc. now owns 5,989 shares of the company’s stock worth $396,000 after buying an additional 131 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in PACCAR by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 330,679 shares of the company’s stock worth $21,841,000 after buying an additional 31,131 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in PACCAR by 3.3% during the second quarter. Thrivent Financial For Lutherans now owns 13,337 shares of the company’s stock worth $881,000 after buying an additional 430 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in PACCAR by 0.5% during the second quarter. Mutual of America Capital Management LLC now owns 43,153 shares of the company’s stock worth $2,850,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 62.26% of the company’s stock.
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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.
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