PACCAR (NASDAQ:PCAR) Raised to "Outperform" at Evercore ISI

Evercore ISI upgraded shares of PACCAR (NASDAQ:PCAR - Free Report) from an in-line rating to an outperform rating in a research note issued to investors on Wednesday, Marketbeat reports. They currently have $129.00 price objective on the stock, up from their prior price objective of $99.00.

PCAR has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their price objective on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley dropped their price objective on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on PACCAR from $121.00 to $109.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PACCAR presently has an average rating of "Hold" and an average target price of $116.55.

PACCAR Price Performance

PCAR traded up $0.17 during trading on Wednesday, hitting $116.96. The company's stock had a trading volume of 896,128 shares, compared to its average volume of 2,634,643. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $61.32 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The firm's 50 day moving average price is $102.77 and its two-hundred day moving average price is $102.65. PACCAR has a 12 month low of $88.97 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analysts' expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.34 earnings per share. Sell-side analysts forecast that PACCAR will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.03%. PACCAR's payout ratio is currently 13.41%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO R Preston Feight sold 27,191 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the firm's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company's stock, valued at $328,353.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bleakley Financial Group LLC increased its position in PACCAR by 2.6% during the 1st quarter. Bleakley Financial Group LLC now owns 8,749 shares of the company's stock worth $1,084,000 after purchasing an additional 222 shares in the last quarter. Delta Investment Management LLC bought a new position in shares of PACCAR in the 1st quarter valued at $226,000. Kingsview Wealth Management LLC grew its position in PACCAR by 13.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 3,641 shares of the company's stock worth $451,000 after acquiring an additional 418 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in PACCAR by 3,636.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company's stock valued at $67,696,000 after purchasing an additional 531,794 shares during the last quarter. Finally, Twin Tree Management LP boosted its stake in shares of PACCAR by 134.5% during the first quarter. Twin Tree Management LP now owns 197,001 shares of the company's stock valued at $24,406,000 after purchasing an additional 112,976 shares in the last quarter. 64.90% of the stock is owned by 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.