PACCAR (NASDAQ:PCAR) Upgraded at Melius Research

Melius Research upgraded shares of PACCAR (NASDAQ:PCAR) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on PCAR. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial boosted their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Evercore ISI dropped their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.23.

PACCAR Trading Down 1.3 %

PCAR stock opened at $98.32 on Tuesday. The company has a fifty day moving average price of $106.48 and a two-hundred day moving average price of $106.40. The stock has a market cap of $51.60 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR has a one year low of $90.04 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts anticipate that PACCAR will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 in the last quarter. 2.02% of the stock is owned by insiders.

Institutional Trading of PACCAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new stake in PACCAR during the 4th quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $37,000. Sunbelt Securities Inc. grew its position in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after buying an additional 350 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $43,000. 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.