PACCAR (NASDAQ:PCAR) Stock Rating Lowered by Morgan Stanley

Morgan Stanley lowered shares of PACCAR (NASDAQ:PCAR - Free Report) from an overweight rating to an equal weight rating in a research report released on Wednesday, Marketbeat reports. They currently have $96.00 price target on the stock.

A number of other research analysts have also weighed in on the company. UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and dropped their target price for the company from $108.00 to $78.00 in a report on Monday, April 7th. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. Citigroup cut their price objective on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI reduced their price target on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $108.59.

PACCAR Stock Down 2.7 %

Shares of PCAR traded down $2.35 during trading hours on Wednesday, hitting $85.82. The stock had a trading volume of 1,006,762 shares, compared to its average volume of 2,740,820. The firm has a 50 day simple moving average of $99.09 and a 200-day simple moving average of $105.84. PACCAR has a 1-year low of $85.09 and a 1-year high of $118.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market capitalization of $45.05 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

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

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.54%. This is a positive change from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 25,200 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last three months. Company insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its position in shares of PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of PACCAR during the fourth quarter valued at approximately $37,000. Sunbelt Securities Inc. boosted its holdings in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after acquiring an additional 350 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in PACCAR during the 4th quarter valued at about $37,000. Finally, Atala Financial Inc bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $43,000. 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.