PACCAR (NASDAQ:PCAR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PACCAR (NASDAQ:PCAR) from a sell rating to a hold rating in a report issued on Saturday morning.

A number of other research firms also recently issued reports on PCAR. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Citigroup raised their target price on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. lifted their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $115.92.

PACCAR Trading Up 1.4%

NASDAQ PCAR opened at $124.61 on Friday. The company has a market cap of $65.45 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.03 and a beta of 1.03. The business has a 50 day moving average price of $114.30 and a 200-day moving average price of $104.02. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 0.56. PACCAR has a 52 week low of $84.65 and a 52 week high of $125.36.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.66 earnings per share. As a group, equities analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.27%.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 2,200 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $123.99, for a total value of $272,778.00. Following the transaction, the chief financial officer directly owned 903 shares of the company’s stock, valued at approximately $111,962.97. The trade was a 70.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares of the company’s stock, valued at approximately $768,125.82. The trade was a 66.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Several institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of PACCAR in the second quarter valued at $472,520,000. UBS Group AG increased its holdings in PACCAR by 74.4% in the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after acquiring an additional 1,940,260 shares during the last quarter. Pacer Advisors Inc. raised its stake in PACCAR by 2,389.2% in the 3rd quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock valued at $197,705,000 after acquiring an additional 1,930,056 shares during the period. American Century Companies Inc. raised its stake in PACCAR by 235.9% in the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after acquiring an additional 1,784,236 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in PACCAR by 25.2% during the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.