PACCAR (NASDAQ:PCAR) Upgraded at StockNews.com

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

Other research analysts have also issued research reports about the company. UBS Group upgraded PACCAR from a neutral rating to a buy rating and lifted their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Citigroup started coverage on PACCAR in a report on Wednesday, June 26th. They issued a neutral rating and a $115.00 price target on the stock. Truist Financial cut their price target on PACCAR from $121.00 to $115.00 and set a hold rating on the stock in a report on Tuesday, July 2nd. JPMorgan Chase & Co. cut their price target on PACCAR from $140.00 to $130.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. Finally, Raymond James started coverage on PACCAR in a report on Friday, June 28th. They issued a market perform rating on the stock. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $113.92.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $101.50 on Monday. The firm has a market cap of $53.20 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. The business has a 50 day moving average price of $106.02 and a two-hundred day moving average price of $107.96. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 EPS 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 return on equity of 31.71% and a net margin of 14.30%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 EPS. Sell-side analysts expect that PACCAR will post 8.37 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.

Insider Buying and Selling

In related news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares in the company, valued at $16,397,377.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The disclosure for this sale can be found here. Insiders have sold 45,040 shares of company stock worth $4,779,241 in the last three months. 2.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Csenge Advisory Group grew its holdings in shares of PACCAR by 9.0% during the second quarter. Csenge Advisory Group now owns 2,416 shares of the company’s stock valued at $249,000 after buying an additional 200 shares in the last quarter. Fortitude Family Office LLC grew its stake in PACCAR by 200.0% in the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in PACCAR by 6.9% in the second quarter. Valeo Financial Advisors LLC now owns 6,425 shares of the company’s stock valued at $661,000 after purchasing an additional 412 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in PACCAR by 49.1% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 3,916 shares of the company’s stock worth $403,000 after purchasing an additional 1,290 shares during the last quarter. Finally, Apella Capital LLC increased its position in PACCAR by 1.6% in the 2nd quarter. Apella Capital LLC now owns 7,989 shares of the company’s stock worth $810,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other 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.