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

PACCAR (NASDAQ:PCAR) had its price objective upped by JPMorgan Chase & Co. from $122.00 to $125.00 in a research report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PCAR has been the subject of a number of other research reports. Citigroup raised their price objective on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Morgan Stanley dropped their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $118.75.

PACCAR Trading Up 1.5 %

Shares of NASDAQ PCAR opened at $108.16 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market cap of $56.71 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 1.77 and a beta of 0.93. The business has a fifty day simple moving average of $111.33 and a 200-day simple moving average of $103.84.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the company earned $2.34 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts predict that PACCAR will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is 14.75%.

Insider Activity at PACCAR

In other news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC boosted its holdings in shares of PACCAR by 13.3% during the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after buying an additional 97 shares during the period. Omnia Family Wealth LLC boosted its holdings in PACCAR by 2.5% during the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after acquiring an additional 98 shares during the period. Grove Bank & Trust grew its position in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the last quarter. Insight Wealth Partners LLC increased its stake in shares of PACCAR by 1.4% in the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after purchasing an additional 104 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of PACCAR by 17.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 728 shares of the company’s stock worth $72,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Company Profile

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.