PACCAR (NASDAQ:PCAR) Given New $125.00 Price Target at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its price objective lifted by JPMorgan Chase & Co. from $115.00 to $125.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also commented on PCAR. Evercore ISI reduced their target price on PACCAR from $109.00 to $99.00 and set an in-line rating for the company in a research report on Monday, August 19th. Citigroup raised their price objective on shares of PACCAR from $100.00 to $108.00 and gave the stock a neutral rating in a report on Wednesday. StockNews.com raised shares of PACCAR from a hold rating to a buy rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PACCAR from $121.00 to $109.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Finally, Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They set a market perform rating on the stock. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $114.00.

PACCAR Stock Performance

NASDAQ PCAR opened at $106.80 on Friday. The company’s fifty day moving average is $96.64 and its two-hundred day moving average is $104.40. PACCAR has a 52-week low of $80.94 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The firm has a market capitalization of $55.99 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 1.61 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same period last year, the business earned $2.33 earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities research analysts forecast that PACCAR will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.71%.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PCAR. State Board of Administration of Florida Retirement System boosted its holdings in PACCAR by 4.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after acquiring an additional 27,963 shares during the last quarter. BDF Gestion bought a new position in shares of PACCAR in the 2nd quarter valued at about $2,862,000. Advisory Services Network LLC grew its position in shares of PACCAR by 15.9% during the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after buying an additional 7,678 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of PACCAR by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after buying an additional 105,109 shares during the last quarter. Finally, Optimist Retirement Group LLC acquired a new position in PACCAR in the fourth quarter valued at approximately $37,032,000. 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.