J P Morgan Chase & Co lowered shares of PACCAR (NASDAQ:PCAR) from an overweight rating to a neutral rating in a research report sent to investors on Monday, MarketBeat Ratings reports. J P Morgan Chase & Co currently has $73.00 price objective on the stock.

Several other research analysts also recently commented on PCAR. ValuEngine upgraded PACCAR from a hold rating to a buy rating in a research note on Thursday, September 7th. Zacks Investment Research upgraded PACCAR from a hold rating to a buy rating and set a $74.00 target price for the company in a research note on Tuesday, September 5th. Royal Bank of Canada reiterated a buy rating on shares of PACCAR in a research note on Friday, September 1st. UBS reiterated a buy rating and set a $82.00 target price (up from $76.00) on shares of PACCAR in a research note on Tuesday, October 3rd. Finally, Citigroup lifted their price target on PACCAR from $78.00 to $81.00 and gave the stock a buy rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. PACCAR presently has an average rating of Hold and an average target price of $75.15.

Shares of PACCAR (PCAR) opened at $70.10 on Monday. PACCAR has a 1 year low of $61.93 and a 1 year high of $75.68. The stock has a market capitalization of $25,224.52, a P/E ratio of 18.40, a P/E/G ratio of 1.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.06. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. equities analysts expect that PACCAR will post 4.18 earnings per share for the current year.

The firm also recently declared a special dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be issued a dividend of $1.20 per share. The ex-dividend date is Wednesday, December 13th. This represents a dividend yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is currently 25.64%.

In other news, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $69.02, for a total transaction of $249,714.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $71.37, for a total value of $7,062,489.72. Following the transaction, the insider now directly owns 2,985,401 shares of the company’s stock, valued at approximately $213,068,069.37. The disclosure for this sale can be found here. Insiders have sold a total of 106,598 shares of company stock valued at $7,597,908 in the last three months. 2.64% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. Koch Industries Inc. bought a new stake in PACCAR during the 2nd quarter worth $213,000. Principal Financial Group Inc. grew its position in PACCAR by 381.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after acquiring an additional 2,038,761 shares during the last quarter. Delta Lloyd Asset Management N.V. bought a new stake in PACCAR during the 2nd quarter worth $3,038,000. BlueMountain Capital Management LLC bought a new stake in PACCAR during the 2nd quarter worth $2,771,000. Finally, Brighton Jones LLC bought a new stake in PACCAR during the 2nd quarter worth $3,338,000. Institutional investors and hedge funds own 62.36% of the company’s stock.

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About PACCAR

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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