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

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

A number of other equities research analysts have also recently commented on PCAR. Truist Financial assumed coverage on PACCAR in a report on Thursday, March 14th. They set a hold rating and a $117.00 price target on the stock. TD Cowen raised their price target on PACCAR from $91.00 to $108.00 and gave the company a market perform rating in a report on Wednesday, January 24th. The Goldman Sachs Group raised their price target on PACCAR from $93.00 to $106.00 and gave the company a neutral rating in a report on Wednesday, January 24th. Bank of America raised PACCAR from an underperform rating to a neutral rating and raised their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. Finally, Royal Bank of Canada assumed coverage on PACCAR in a report on Tuesday, March 26th. They set a sector perform rating and a $123.00 price target on the stock. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $110.82.

PACCAR Price Performance

Shares of PACCAR stock opened at $113.76 on Monday. PACCAR has a one year low of $68.40 and a one year high of $125.50. The stock’s fifty day moving average is $115.86 and its 200 day moving average is $100.66. The stock has a market cap of $59.61 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.78 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 (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same period last year, the firm earned $1.76 EPS. PACCAR’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR will post 8.16 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. PACCAR’s payout ratio is 12.31%.

Insider Activity

In other news, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the transaction, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the transaction, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at approximately $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 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in shares of PACCAR during the first quarter valued at approximately $29,000. Rise Advisors LLC purchased a new position in PACCAR during the 1st quarter valued at $31,000. AdvisorNet Financial Inc grew its position in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. OFI Invest Asset Management purchased a new stake in PACCAR in the third quarter worth $26,000. Finally, ST Germain D J Co. Inc. lifted its position in shares of PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 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.