JPMorgan Chase & Co. Boosts PACCAR (NASDAQ:PCAR) Price Target to $125.00

PACCAR (NASDAQ:PCAR) had its price objective upped by JPMorgan Chase & Co. from $115.00 to $125.00 in a research report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PCAR has been the subject of several other research reports. Raymond James started coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a market perform rating for the company. Citigroup boosted their price objective on PACCAR from $100.00 to $108.00 and gave the company a neutral rating in a report on Wednesday, October 9th. StockNews.com raised PACCAR from a hold rating to a buy rating in a research report on Wednesday, July 24th. Evercore ISI decreased their target price on PACCAR from $109.00 to $99.00 and set an in-line rating for the company in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of PACCAR from $121.00 to $109.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $114.00.

PACCAR Stock Performance

NASDAQ:PCAR opened at $106.80 on Friday. The firm has a market capitalization of $55.99 billion, a PE ratio of 11.31, a PEG ratio of 1.61 and a beta of 0.91. The stock’s fifty day moving average is $96.64 and its 200 day moving average is $104.13. 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 0.52, a quick ratio of 2.54 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. On average, sell-side analysts anticipate that PACCAR will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. PACCAR’s dividend payout ratio is currently 12.71%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Institutional investors have recently added to or reduced their stakes in the stock. Optimist Retirement Group LLC purchased a new position in PACCAR in the 4th quarter valued at about $37,032,000. Hobbs Group Advisors LLC purchased a new position in shares of PACCAR in the fourth quarter valued at approximately $438,000. Integrated Advisors Network LLC acquired a new stake in shares of PACCAR in the fourth quarter worth approximately $225,000. Syon Capital LLC increased its position in shares of PACCAR by 9.7% during the fourth quarter. Syon Capital LLC now owns 6,494 shares of the company’s stock worth $634,000 after purchasing an additional 574 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in PACCAR by 89.7% in the 4th quarter. EP Wealth Advisors LLC now owns 15,724 shares of the company’s stock valued at $1,535,000 after purchasing an additional 7,433 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

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.