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

PACCAR (NASDAQ:PCAR - Free Report) had its target price decreased by JPMorgan Chase & Co. from $125.00 to $122.00 in a research note published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PCAR has been the subject of a number of other reports. Truist Financial dropped their price target on shares of PACCAR from $107.00 to $103.00 and set a "hold" rating for the company in a research report on Wednesday, October 9th. Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They issued a "market perform" rating for the company. Evercore ISI reduced their target price on PACCAR from $109.00 to $99.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. Citigroup upped their price objective on shares of PACCAR from $100.00 to $108.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, PACCAR presently has an average rating of "Hold" and a consensus target price of $114.18.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $0.99 during trading hours on Wednesday, reaching $103.80. 3,243,254 shares of the stock were exchanged, compared to its average volume of 2,645,406. The stock's fifty day simple moving average is $98.98 and its 200 day simple moving average is $103.41. The firm has a market capitalization of $54.41 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.70 and a beta of 0.91. PACCAR has a 52 week low of $80.94 and a 52 week 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 - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share 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 during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter last year, the firm earned $2.34 earnings per share. The company's revenue was down 5.2% on a year-over-year basis. Sell-side analysts predict that PACCAR will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.16%. PACCAR's dividend payout ratio is currently 12.71%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the business'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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds have recently modified their holdings of PCAR. Miracle Mile Advisors LLC lifted its holdings in PACCAR by 3.8% during the 1st quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company's stock worth $307,000 after buying an additional 91 shares during the period. Security National Bank lifted its stake in shares of PACCAR by 4.2% in the second quarter. Security National Bank now owns 2,328 shares of the company's stock worth $240,000 after acquiring an additional 93 shares during the period. Brookstone Capital Management boosted its holdings in PACCAR by 4.1% in the second quarter. Brookstone Capital Management now owns 2,366 shares of the company's stock valued at $258,000 after acquiring an additional 94 shares during the last quarter. CVA Family Office LLC increased its position in PACCAR by 13.3% during the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company's stock valued at $82,000 after purchasing an additional 97 shares during the period. Finally, Graypoint LLC raised its holdings in PACCAR by 2.9% during the 1st quarter. Graypoint LLC now owns 3,557 shares of the company's stock worth $441,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds 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.