PACCAR Inc (NASDAQ:PCAR) had its target price decreased by Robert W. Baird from $55.00 to $53.00 in a research report released on Monday, Analyst Ratings.Net reports. Robert W. Baird currently has a neutral rating on the stock.

Shares of PACCAR (NASDAQ:PCAR) opened at 48.54 on Monday. The firm has a market capitalization of $17.16 billion and a PE ratio of 10.46. PACCAR has a 52-week low of $43.46 and a 52-week high of $68.44. The company’s 50-day moving average is $46.70 and its 200 day moving average is $53.87.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Friday, January 29th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by $0.04. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the company earned $1.11 earnings per share. Equities analysts expect that PACCAR will post $3.99 earnings per share for the current fiscal year.

The business also recently disclosed a special dividend, which was paid on Tuesday, January 5th. Stockholders of record on Friday, December 18th were issued a dividend of $1.40 per share. This is an increase from PACCAR’s previous special dividend of $0.90. The ex-dividend date was Wednesday, December 16th. This represents a dividend yield of 1.96%.

Several other equities analysts have also recently issued reports on the stock. Stifel Nicolaus started coverage on shares of PACCAR in a research note on Tuesday, October 6th. They issued a hold rating on the stock. JPMorgan Chase & Co. cut shares of PACCAR from an overweight rating to a neutral rating and dropped their price objective for the company from $70.00 to $55.00 in a research note on Friday, October 9th. RBC Capital cut shares of PACCAR from an outperform rating to a sector perform rating and lowered their price target for the stock from $64.00 to $57.00 in a research note on Monday, November 30th. Citigroup Inc. cut shares of PACCAR from a buy rating to a neutral rating in a research note on Tuesday, January 26th. Finally, BMO Capital Markets reaffirmed an underperform rating and set a $55.00 price target (down from $65.00) on shares of PACCAR in a research note on Thursday, December 3rd. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $56.67.

In other news, Chairman Mark C. Pigott sold 73,671 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $52.23, for a total transaction of $3,847,836.33. Following the transaction, the chairman now directly owns 76,671 shares in the company, valued at approximately $4,004,526.33. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Several hedge funds and institutional investors recently made changes to their positions in PCAR. American Century Companies Inc. raised its position in shares of PACCAR by 61.2% in the fourth quarter. American Century Companies Inc. now owns 1,859,505 shares of the company’s stock valued at $88,141,000 after buying an additional 706,287 shares during the last quarter. Nordea Investment Management AB raised its position in shares of PACCAR by 35.7% in the fourth quarter. Nordea Investment Management AB now owns 373,499 shares of the company’s stock valued at $17,704,000 after buying an additional 98,313 shares during the last quarter. Hosking Partners LLP bought a new position in shares of PACCAR during the fourth quarter valued at $3,629,000. Nisa Investment Advisors raised its position in shares of PACCAR by 57.6% in the fourth quarter. Nisa Investment Advisors now owns 186,504 shares of the company’s stock valued at $8,840,000 after buying an additional 68,200 shares during the last quarter. Finally, Lesa Sroufe & Co bought a new position in shares of PACCAR during the fourth quarter valued at $2,360,000.

PACCAR Inc is a company operating in three principal industry segments: the Truck segment, includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, includes finance and leasing products and services provided to customers and dealers in the United States, Canada, Mexico, Europe and Australia. The Company also operates in Australia and Brazil, and sells trucks and parts to customers in Asia, Africa, Middle East and South America. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates. It also manufactures industrial winches in two plants in the United States.

12 Month Chart for NASDAQ:PCAR

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