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

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

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI lowered their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial cut their price target on PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley decreased their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average price target of $114.18.

PACCAR Price Performance

PACCAR stock opened at $103.80 on Wednesday. The company’s 50 day simple moving average is $98.98 and its 200-day simple moving average is $103.41. The company has a market capitalization of $54.41 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. PACCAR has a 1 year low of $80.94 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the prior year, the firm earned $2.34 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. As a group, equities research analysts expect that PACCAR will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

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

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Large investors have recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR in the 1st quarter valued at $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR in the first quarter valued at about $29,000. Quarry LP purchased a new stake in PACCAR during the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its holdings in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of PACCAR in the 2nd quarter worth $36,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.