PACCAR (NASDAQ:PCAR) Price Target Raised to $125.00

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

Other research analysts also recently issued reports about the company. Truist Financial boosted their price target on PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, Citigroup increased their target price 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. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus target price of $119.96.

PACCAR Stock Down 0.5 %

Shares of PCAR stock opened at $109.63 on Monday. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm has a market capitalization of $57.48 billion, a PE ratio of 12.25, a P/E/G ratio of 1.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock’s 50-day simple moving average is $111.37 and its 200-day simple moving average is $103.89.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 EPS. Equities analysts expect that PACCAR will post 7.92 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Activity

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares in the company, valued at approximately $761,947. This represents a 58.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 over the last quarter. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in PACCAR in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. grew its holdings in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR during the second quarter worth about $36,000. Grove Bank & Trust increased its position in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. Finally, Sander Capital Advisors Inc. acquired a new position in PACCAR in the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors 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.