PACCAR (NASDAQ:PCAR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of PACCAR (NASDAQ:PCAR) from a sell rating to a hold rating in a research note published on Friday morning.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of PACCAR from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Citigroup decreased their target price on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. UBS Group cut shares of PACCAR from a “neutral” rating to a “sell” rating and decreased their target price for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Morgan Stanley cut shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price for the company. in a research note on Wednesday, April 16th. Finally, Truist Financial decreased their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.23.

PACCAR Stock Down 1.0%

PCAR stock opened at $90.61 on Friday. The firm’s fifty day simple moving average is $94.45 and its 200-day simple moving average is $104.20. The company has a market capitalization of $47.57 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the prior year, the firm earned $2.27 earnings per share. The business’s revenue for the quarter was down 16.0% on a year-over-year basis. As a group, equities research analysts forecast that PACCAR will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Wednesday, May 14th. PACCAR’s dividend payout ratio is presently 20.00%.

Insiders Place Their Bets

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now directly owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the period. Fulton Bank N.A. grew its holdings in shares of PACCAR by 4.3% in the fourth quarter. Fulton Bank N.A. now owns 4,066 shares of the company’s stock valued at $423,000 after purchasing an additional 167 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at about $76,000. Finally, Czech National Bank grew its holdings in shares of PACCAR by 6.5% in the fourth quarter. Czech National Bank now owns 113,679 shares of the company’s stock valued at $11,825,000 after purchasing an additional 6,890 shares during the period. Hedge funds and other institutional investors 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.