PACCAR (NASDAQ:PCAR) Upgraded to Strong-Buy at Melius Research

Melius Research upgraded shares of PACCAR (NASDAQ:PCAR) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

PCAR has been the topic of a number of other reports. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $124.00 to $108.00 in a research note on Tuesday. Evercore ISI dropped their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial lifted their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

PACCAR Price Performance

Shares of PCAR opened at $98.32 on Tuesday. PACCAR has a 12-month low of $90.04 and a 12-month high of $125.50. The business’s fifty day moving average is $106.48 and its 200 day moving average is $106.40. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The stock has a market cap of $51.60 billion, a P/E ratio of 12.43, a P/E/G ratio of 2.77 and a beta of 0.91.

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

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. PACCAR’s payout ratio is presently 16.69%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

A number of hedge funds have recently bought and sold shares of PCAR. Madrona Financial Services LLC lifted its position in PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after purchasing an additional 91 shares during the last quarter. Global Financial Private Client LLC increased its stake in shares of PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after buying an additional 97 shares during the period. PDS Planning Inc increased its stake in shares of PACCAR by 3.7% during the fourth quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after buying an additional 101 shares during the period. Insight Wealth Partners LLC increased its stake in shares of PACCAR by 1.4% during the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after buying an additional 104 shares during the period. Finally, Valley National Advisers Inc. increased its stake in shares of PACCAR by 0.6% during the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after buying an additional 106 shares during the period. Institutional investors own 64.90% of the company’s stock.

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.