PACCAR (NASDAQ:PCAR) Research Coverage Started at Raymond James

Raymond James began coverage on shares of PACCAR (NASDAQ:PCAR) in a research note released on Friday morning, Marketbeat Ratings reports. The brokerage issued a market perform rating on the stock.

PCAR has been the topic of several other reports. Royal Bank of Canada started coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a sector perform rating and a $123.00 price target on the stock. StockNews.com lowered PACCAR from a buy rating to a hold rating in a report on Thursday, June 27th. UBS Group upgraded PACCAR from a neutral rating to a buy rating and increased their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $140.00 to $130.00 and set an overweight rating for the company in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of Hold and an average price target of $114.38.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $101.84 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $53.38 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.23 and a beta of 0.92. PACCAR has a 12 month low of $80.91 and a 12 month high of $125.50. The stock has a 50 day moving average of $107.60 and a 200-day moving average of $107.77.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.25 earnings per share. As a group, equities research analysts predict that PACCAR will post 8.35 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.30 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date was Tuesday, May 14th. PACCAR’s payout ratio is currently 12.45%.

Insiders Place Their Bets

In other news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $16,397,377.40. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock worth $4,779,241 over the last three months. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. PSI Advisors LLC acquired a new position in PACCAR in the 1st quarter worth about $25,000. YHB Investment Advisors Inc. acquired a new position in shares of PACCAR in the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new position in PACCAR in the 1st quarter valued at approximately $27,000. Riverview Trust Co acquired a new stake in PACCAR during the 1st quarter worth approximately $29,000. Finally, Rise Advisors LLC bought a new stake in PACCAR during the 1st quarter worth approximately $31,000. 64.90% of the stock is currently owned by institutional investors.

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.