PACCAR (NASDAQ:PCAR) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of PACCAR (NASDAQ:PCAR) from a sell rating to a hold rating in a research report sent to investors on Friday.

PCAR has been the topic of several other reports. JPMorgan Chase & Co. lowered shares of PACCAR from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and decreased their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Finally, Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average price target of $105.23.

PACCAR Stock Performance

Shares of PCAR opened at $90.61 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a 50-day moving average of $94.45 and a two-hundred day moving average of $104.20. The stock has a market cap of $47.56 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the company posted $2.27 EPS. PACCAR’s quarterly revenue was down 16.0% compared to the same quarter last year. As a group, research analysts predict that PACCAR will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.46%. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

Insider Buying and Selling at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director now directly owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PCAR. Principal Financial Group Inc. raised its holdings in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after buying an additional 1,164,692 shares during the last quarter. Fulton Bank N.A. lifted its holdings in PACCAR by 4.3% in the fourth quarter. Fulton Bank N.A. now owns 4,066 shares of the company’s stock valued at $423,000 after acquiring an additional 167 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in PACCAR in the fourth quarter worth approximately $76,000. Finally, Czech National Bank lifted its stake in shares of PACCAR by 6.5% in the 4th quarter. Czech National Bank now owns 113,679 shares of the company’s stock valued at $11,825,000 after purchasing an additional 6,890 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.