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

StockNews.com upgraded shares of PACCAR (NASDAQ:PCAR) from a hold rating to a buy rating in a research note released on Monday morning.

A number of other equities analysts have also commented on the stock. UBS Group upgraded shares of PACCAR from a neutral rating to a buy rating and lifted their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. The Goldman Sachs Group lifted their target price on PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Truist Financial lowered their price objective on PACCAR from $121.00 to $115.00 and set a hold rating for the company in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. reduced their target price on PACCAR from $140.00 to $130.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. Finally, Royal Bank of Canada initiated coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a sector perform rating and a $123.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $113.92.

PACCAR Trading Up 1.7 %

NASDAQ PCAR opened at $103.23 on Monday. The company has a market cap of $54.11 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. PACCAR has a twelve month low of $80.94 and a twelve month high of $125.50. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average is $105.95 and its 200 day moving average is $107.93.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.25 earnings per share. As a group, sell-side analysts expect that PACCAR will post 8.37 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Buying and Selling

In other news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by insiders.

Institutional Investors Weigh In On PACCAR

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PSI Advisors LLC bought a new position in PACCAR in the 1st quarter valued at $25,000. AdvisorNet Financial Inc increased its stake in PACCAR by 188.5% in the 4th 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. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR in the 1st quarter valued at about $27,000. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR during the 1st quarter valued at about $27,000. Finally, Riverview Trust Co bought a new stake in shares of PACCAR during the 1st quarter valued at about $29,000. 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.