PACCAR (NASDAQ:PCAR) Price Target Lowered to $122.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its target price trimmed by JPMorgan Chase & Co. from $125.00 to $122.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also commented on PCAR. Raymond James began coverage on PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Evercore ISI cut their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Morgan Stanley cut their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Citigroup boosted their price objective on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average price target of $114.18.

PACCAR Stock Down 0.9 %

NASDAQ:PCAR opened at $103.80 on Wednesday. The company’s 50 day moving average is $98.98 and its two-hundred day moving average is $103.41. The company has a market cap of $54.41 billion, a PE ratio of 11.00, a P/E/G ratio of 1.70 and a beta of 0.91. PACCAR has a twelve month low of $80.94 and a twelve month high of $125.50. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. Analysts anticipate that PACCAR will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. PACCAR’s dividend payout ratio (DPR) is presently 12.71%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently modified their holdings of PCAR. Riverview Trust Co acquired a new position in shares of PACCAR during the 1st quarter worth approximately $29,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of PACCAR in the 1st quarter worth $213,000. Hennessy Advisors Inc. purchased a new position in shares of PACCAR during the 1st quarter worth $3,605,000. Indiana Trust & Investment Management CO grew its holdings in shares of PACCAR by 337.9% in the first quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock valued at $67,000 after purchasing an additional 419 shares during the period. Finally, OneAscent Wealth Management LLC purchased a new position in PACCAR during the first quarter worth about $225,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.