PACCAR (NASDAQ:PCAR) Rating Increased to Buy at Melius

Melius upgraded shares of PACCAR (NASDAQ:PCAR) from a hold rating to a buy rating in a report released on Tuesday morning, Marketbeat.com reports.

A number of other brokerages also recently issued reports on PCAR. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup decreased their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $118.23.

PACCAR Trading Down 0.9 %

Shares of PCAR stock opened at $100.21 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market capitalization of $52.59 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a 50 day moving average price of $106.86 and a 200 day moving average price of $106.50. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts predict that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is 16.69%.

Insider Activity at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 in the last 90 days. 2.02% of the stock is owned by insiders.

Hedge Funds Weigh In On PACCAR

Several institutional investors have recently bought and sold shares of PCAR. Principal Financial Group Inc. increased its stake in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after buying an additional 178,813 shares during the period. Quest Partners LLC grew its stake in shares of PACCAR by 45,433.3% during the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock worth $270,000 after purchasing an additional 2,726 shares during the period. Caprock Group LLC grew its stake in shares of PACCAR by 18.4% during the 3rd quarter. Caprock Group LLC now owns 24,728 shares of the company’s stock worth $2,440,000 after purchasing an additional 3,835 shares during the period. LGT Capital Partners LTD. grew its stake in shares of PACCAR by 32.0% during the 3rd quarter. LGT Capital Partners LTD. now owns 574,965 shares of the company’s stock worth $56,738,000 after purchasing an additional 139,270 shares during the period. Finally, Banque Cantonale Vaudoise grew its stake in shares of PACCAR by 73.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 10,291 shares of the company’s stock worth $1,016,000 after purchasing an additional 4,372 shares during the period. 64.90% of the stock is 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.