PACCAR (NASDAQ:PCAR) Given New $140.00 Price Target at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its price objective boosted by JPMorgan Chase & Co. from $135.00 to $140.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on the company. Morgan Stanley assumed coverage on PACCAR in a research report on Monday, January 8th. They issued an overweight rating and a $125.00 target price for the company. Truist Financial initiated coverage on PACCAR in a research note on Thursday, March 14th. They set a hold rating and a $117.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of PACCAR from $93.00 to $106.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th. Bank of America upgraded shares of PACCAR from an underperform rating to a neutral rating and lifted their price target for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Finally, UBS Group raised PACCAR from a neutral rating to a buy rating and boosted their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of Moderate Buy and a consensus price target of $110.82.

PACCAR Trading Down 1.4 %

NASDAQ:PCAR opened at $115.93 on Monday. The stock has a market cap of $60.75 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. PACCAR has a 1 year low of $68.40 and a 1 year high of $125.50. The stock has a 50-day simple moving average of $115.70 and a 200-day simple moving average of $100.57.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.76 EPS. As a group, analysts anticipate that PACCAR will post 8.16 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is presently 12.31%.

Insider Transactions at PACCAR

In other news, Chairman Mark C. Pigott sold 74,347 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the sale, the chairman now directly owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the sale, the chairman now owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock worth $15,834,812 in the last ninety days. Insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Several large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its position in shares of PACCAR by 18.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock worth $10,450,000 after purchasing an additional 16,360 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of PACCAR during the third quarter worth about $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of PACCAR by 42.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock worth $47,518,000 after purchasing an additional 166,628 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of PACCAR by 29.6% during the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock worth $7,004,000 after purchasing an additional 16,390 shares during the last quarter. Finally, Nilsine Partners LLC bought a new position in shares of PACCAR during the fourth quarter worth about $1,337,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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.