PACCAR (NASDAQ:PCAR) Price Target Lowered to $105.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its price objective cut by JPMorgan Chase & Co. from $121.00 to $105.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and cut their price target for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Truist Financial decreased their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Evercore ISI decreased their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $112.13.

PACCAR Trading Up 1.9 %

PACCAR stock opened at $90.47 on Friday. The stock has a 50-day moving average price of $100.92 and a 200 day moving average price of $106.21. The company has a market capitalization of $47.49 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR has a 52 week low of $85.10 and a 52 week high of $121.75. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

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

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is 16.69%.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

Hedge funds have recently bought and sold shares of the business. Everence Capital Management Inc. purchased a new stake in shares of PACCAR in the fourth quarter valued at about $1,984,000. Cullen Frost Bankers Inc. boosted its position in shares of PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after acquiring an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC raised its stake in PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares in the last quarter. LPL Financial LLC lifted its stake in PACCAR by 6.1% in the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock valued at $22,094,000 after buying an additional 12,143 shares during the last quarter. Finally, Insight Wealth Strategies LLC boosted its stake in shares of PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares during the period. 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.