PACCAR (NASDAQ:PCAR) Given New $102.00 Price Target at Morgan Stanley

PACCAR (NASDAQ:PCAR) had its price target boosted by Morgan Stanley from $93.00 to $102.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of PACCAR in a research note on Friday, December 5th. UBS Group set a $103.00 target price on shares of PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised shares of PACCAR from a “neutral” rating to an “overweight” rating and raised their target price for the company from $108.00 to $133.00 in a research report on Friday, December 19th. Finally, Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.58.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $119.43 on Tuesday. The firm’s 50 day simple moving average is $107.65 and its 200-day simple moving average is $101.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. PACCAR has a one year low of $84.65 and a one year high of $119.64. The firm has a market cap of $62.72 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 14.73 and a beta of 1.01.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 EPS. As a group, equities analysts predict that PACCAR will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio is presently 25.83%.

Insiders Place Their Bets

In other news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PCAR. Hazlett Burt & Watson Inc. boosted its holdings in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Private Wealth Management Group LLC increased its holdings in shares of PACCAR by 293.1% during the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. Wealth Watch Advisors INC purchased a new position in shares of PACCAR in the 3rd quarter valued at approximately $32,000. AlphaQuest LLC acquired a new stake in PACCAR in the 3rd quarter worth approximately $38,000. Finally, True Wealth Design LLC grew its position in PACCAR by 61.1% during the 4th quarter. True Wealth Design LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 138 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.