PACCAR (NASDAQ:PCAR) Price Target Raised to $140.00

PACCAR (NASDAQ:PCAR) had its price objective boosted by JPMorgan Chase & Co. from $135.00 to $140.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on PCAR. UBS Group raised PACCAR from a neutral rating to a buy rating and raised their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. The Goldman Sachs Group raised their price target on PACCAR from $93.00 to $106.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Morgan Stanley initiated coverage on PACCAR in a report on Monday, January 8th. They issued an overweight rating and a $125.00 price target for the company. Truist Financial initiated coverage on PACCAR in a report on Thursday, March 14th. They issued a hold rating and a $117.00 price target for the company. Finally, Royal Bank of Canada started coverage on PACCAR in a report on Tuesday, March 26th. They issued a sector perform rating and a $123.00 price target for the company. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $110.82.

PACCAR Price Performance

Shares of PCAR stock opened at $115.93 on Monday. PACCAR has a 1-year low of $68.40 and a 1-year high of $125.50. The stock’s 50-day moving average is $115.70 and its 200 day moving average is $100.57. The company has a market cap of $60.75 billion, a P/E ratio of 13.22, a PEG ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter last year, the company earned $1.76 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts predict that PACCAR will post 8.16 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Activity at PACCAR

In other news, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,589,751.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

A number of institutional investors have recently made changes to their positions in PCAR. OFI Invest Asset Management acquired a new stake in shares of PACCAR in the third quarter worth approximately $26,000. AdvisorNet Financial Inc boosted its stake in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of PACCAR in the first quarter worth approximately $29,000. Finally, Arlington Trust Co LLC acquired a new stake in shares of PACCAR in the third quarter worth approximately $30,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.