PACCAR (NASDAQ:PCAR) PT Raised to $140.00

PACCAR (NASDAQ:PCAR) had its price objective upped by JPMorgan Chase & Co. from $135.00 to $140.00 in a research report report published on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently issued reports on PCAR. Bank of America raised shares of PACCAR from an underperform rating to a neutral rating and upped their price objective for the company from $84.00 to $97.00 in a research note on Friday, January 19th. UBS Group raised shares of PACCAR from a neutral rating to a buy rating and upped their price objective for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Truist Financial began coverage on shares of PACCAR in a research note on Thursday, March 14th. They set a hold rating and a $117.00 price objective for the company. Evercore ISI upped their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an in-line rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley began coverage on shares of PACCAR in a research note on Monday, January 8th. They set an overweight rating and a $125.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PACCAR presently has an average rating of Moderate Buy and an average price target of $109.75.

PACCAR Stock Down 0.1 %

PCAR stock opened at $118.02 on Monday. The stock has a market capitalization of $61.84 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.79 and a beta of 0.92. The firm has a 50-day simple moving average of $115.22 and a 200-day simple moving average of $100.23. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. PACCAR has a 52 week low of $68.40 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 earnings per share. Equities analysts forecast that PACCAR will post 8.16 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.92%. PACCAR’s payout ratio is 12.31%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other PACCAR news, SVP Kevin D. Baney sold 7,203 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the transaction, the senior vice president now owns 6,621 shares of the company’s stock, valued at approximately $682,161.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the transaction, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PACCAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its position in PACCAR by 18.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after buying an additional 16,360 shares during the period. Aigen Investment Management LP purchased a new position in PACCAR in the 3rd quarter valued at approximately $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in PACCAR by 42.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock valued at $47,518,000 after buying an additional 166,628 shares during the period. Pacer Advisors Inc. raised its holdings in shares of PACCAR by 29.6% in the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after purchasing an additional 16,390 shares in the last quarter. Finally, Nilsine Partners LLC acquired a new stake in shares of PACCAR in the 4th quarter valued at $1,337,000. 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.