PACCAR (NASDAQ:PCAR) Upgraded to "Hold" at StockNews.com

StockNews.com upgraded shares of PACCAR (NASDAQ:PCAR - Free Report) from a sell rating to a hold rating in a research note issued to investors on Friday.

A number of other research analysts have also recently commented on PCAR. JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Royal Bank of Canada decreased their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday. Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Finally, Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $105.23.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $0.95 during trading on Friday, hitting $90.61. The company had a trading volume of 2,238,168 shares, compared to its average volume of 2,764,008. The stock has a 50 day simple moving average of $94.45 and a 200 day simple moving average of $104.21. The firm has a market capitalization of $47.57 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the business earned $2.27 earnings per share. The firm's revenue for the quarter was down 16.0% on a year-over-year basis. As a group, analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.46%. PACCAR's payout ratio is 20.00%.

Insiders Place Their Bets

In related news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Pierre R. Breber bought 5,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACCAR

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after buying an additional 1,164,692 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of PACCAR by 4.3% in the 4th quarter. Fulton Bank N.A. now owns 4,066 shares of the company's stock valued at $423,000 after buying an additional 167 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of PACCAR in the 4th quarter worth approximately $76,000. Finally, Czech National Bank raised its stake in shares of PACCAR by 6.5% during the 4th quarter. Czech National Bank now owns 113,679 shares of the company's stock worth $11,825,000 after acquiring an additional 6,890 shares in the last quarter. 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.