PACCAR (NASDAQ:PCAR) Price Target Raised to $125.00 at JPMorgan Chase & Co.

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 morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PCAR has been the topic of a number of other research reports. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Citigroup upped their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Jefferies Financial Group lowered 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. Finally, Truist Financial lifted their price objective on shares of PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $118.75.

PACCAR Trading Up 1.5 %

Shares of PCAR opened at $108.16 on Monday. PACCAR has a one year low of $90.04 and a one year high of $125.50. The stock has a 50-day moving average price of $111.33 and a 200 day moving average price of $103.84. 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 company has a market capitalization of $56.71 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 EPS. Sell-side analysts forecast that PACCAR will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders 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 payout ratio is 14.75%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last three months. 2.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PCAR. Quarry LP bought a new position in PACCAR during the 2nd quarter valued at $26,000. Meeder Asset Management Inc. boosted its stake in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in PACCAR during the second quarter valued at about $36,000. Grove Bank & Trust grew its holdings 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 acquiring an additional 103 shares during the period. Finally, Sander Capital Advisors Inc. bought a new stake in PACCAR in the third quarter worth about $50,000. Institutional investors and hedge funds 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.