PACCAR (NASDAQ:PCAR) Upgraded at Melius

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

Several other research analysts have also weighed in on PCAR. Evercore ISI lowered their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial increased their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Citigroup lowered their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $118.23.

PACCAR Price Performance

PCAR stock opened at $98.32 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The business has a 50 day simple moving average of $106.48 and a 200-day simple moving average of $106.40. The firm has a market capitalization of $51.60 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR has a 1 year low of $90.04 and a 1 year high of $125.50.

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

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

A number of institutional investors have recently bought and sold shares of the business. Madrona Financial Services LLC lifted its holdings in PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after buying an additional 91 shares during the last quarter. Global Financial Private Client LLC lifted its holdings in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after buying an additional 97 shares during the last quarter. PDS Planning Inc lifted its holdings in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock worth $292,000 after buying an additional 101 shares during the last quarter. Insight Wealth Partners LLC lifted its holdings in PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after buying an additional 104 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after buying an additional 106 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other 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.