PACCAR (NASDAQ:PCAR) Given New $130.00 Price Target at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its target price reduced by JPMorgan Chase & Co. from $140.00 to $130.00 in a report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts have also recently commented on the company. Bank of America raised PACCAR from an underperform rating to a neutral rating and boosted their target price for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. The Goldman Sachs Group boosted their target price on PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Royal Bank of Canada began coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a sector perform rating and a $123.00 price target for the company. Evercore ISI boosted their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an in-line rating in a report on Tuesday, February 20th. Finally, Truist Financial initiated coverage on shares of PACCAR in a report on Thursday, March 14th. They issued a hold rating and a $117.00 target price for the company. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PACCAR has a consensus rating of Moderate Buy and an average target price of $112.31.

PACCAR Trading Up 0.2 %

Shares of PACCAR stock opened at $106.34 on Wednesday. The stock has a 50 day moving average of $116.62 and a 200 day moving average of $102.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 1.69. The firm has a market capitalization of $55.72 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.59 and a beta of 0.96. PACCAR has a fifty-two week low of $68.40 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. PACCAR’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 earnings per share. As a group, research analysts predict that PACCAR will post 8.23 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR’s dividend payout ratio is 11.20%.

Insider Buying and Selling

In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,117 shares of company stock worth $6,510,010. Insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Institutional investors have recently modified their holdings of the business. Raymond James & Associates grew its stake in PACCAR by 29.1% during the 3rd quarter. Raymond James & Associates now owns 79,615 shares of the company’s stock worth $6,769,000 after buying an additional 17,953 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in PACCAR by 15.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 90,658 shares of the company’s stock valued at $7,708,000 after purchasing an additional 12,451 shares during the period. Arlington Trust Co LLC bought a new position in PACCAR in the 3rd quarter worth about $30,000. Independent Advisor Alliance increased its stake in shares of PACCAR by 673.2% in the third quarter. Independent Advisor Alliance now owns 45,827 shares of the company’s stock valued at $3,896,000 after purchasing an additional 39,900 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of PACCAR by 1.1% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 251,619 shares of the company’s stock worth $21,393,000 after buying an additional 2,700 shares during the period. Institutional investors 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.