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

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

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group lifted their price objective on PACCAR from $106.00 to $121.00 and gave the company a neutral rating in a report on Tuesday, April 16th. TD Cowen upped their price target on PACCAR from $91.00 to $108.00 and gave the company a market perform rating in a research report on Wednesday, January 24th. Morgan Stanley assumed coverage on PACCAR in a report on Monday, January 8th. They set an overweight rating and a $125.00 price objective for the company. Bank of America upgraded shares of PACCAR from an underperform rating to a neutral rating and boosted their target price for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Finally, Evercore ISI increased their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an in-line rating in a research report on Tuesday, February 20th. Eight equities 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, the company currently has a consensus rating of Moderate Buy and a consensus price target of $112.31.

PACCAR Stock Performance

PCAR opened at $106.34 on Wednesday. The stock’s 50 day simple moving average is $116.62 and its 200-day simple moving average is $102.36. The company has a current ratio of 1.69, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The stock has a market cap of $55.72 billion, a PE ratio of 11.03, a P/E/G ratio of 1.59 and a beta of 0.96. PACCAR has a 1 year low of $68.40 and a 1 year high of $125.50.

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

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be paid a $0.30 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PACCAR’s payout ratio is currently 11.20%.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,320 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The sale was disclosed in a filing 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 company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the transaction, the chief executive officer now owns 145,495 shares of the company’s stock, valued at $15,010,719.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,117 shares of company stock worth $6,510,010. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Miracle Mile Advisors LLC raised its holdings in shares of PACCAR by 3.8% during the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock worth $307,000 after acquiring an additional 91 shares during the period. Morningstar Investment Management LLC boosted its position in shares of PACCAR by 1.3% during the fourth quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after buying an additional 97 shares during the period. Kingsview Wealth Management LLC grew its holdings in shares of PACCAR by 3.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock worth $315,000 after buying an additional 100 shares in the last quarter. Evanson Asset Management LLC raised its position in PACCAR by 3.5% in the 1st quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock valued at $400,000 after buying an additional 108 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC lifted its stake in PACCAR by 0.5% in the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock valued at $2,158,000 after acquiring an additional 109 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

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.