The Goldman Sachs Group Boosts PACCAR (NASDAQ:PCAR) Price Target to $121.00

PACCAR (NASDAQ:PCAR) had its target price raised by The Goldman Sachs Group from $106.00 to $121.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on PCAR. Bank of America upgraded shares of PACCAR from an underperform rating to a neutral rating and lifted their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Morgan Stanley initiated coverage on shares of PACCAR in a research note on Monday, January 8th. They issued an overweight rating and a $125.00 target price on the stock. Royal Bank of Canada assumed coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a sector perform rating and a $123.00 price target for the company. JPMorgan Chase & Co. upped their price objective on PACCAR from $135.00 to $140.00 and gave the company an overweight rating in a research note on Monday. Finally, UBS Group raised PACCAR from a neutral rating to a buy rating and increased their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $110.82.

PACCAR Stock Down 1.9 %

Shares of PCAR opened at $113.76 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The company has a 50-day simple moving average of $115.86 and a 200-day simple moving average of $100.66. PACCAR has a 52 week low of $68.40 and a 52 week high of $125.50. The firm has a market capitalization of $59.61 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.74 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the firm posted $1.76 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that PACCAR will post 8.21 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Insider Buying and Selling

In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,589,751.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kevin D. Baney sold 7,203 shares of PACCAR stock in a transaction on Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the sale, the senior vice president now directly owns 6,621 shares of the company’s stock, valued at $682,161.63. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock worth $15,834,812 in the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new position in PACCAR in the first quarter valued at approximately $29,000. Rise Advisors LLC acquired a new stake in shares of PACCAR in the 1st quarter valued at approximately $31,000. AdvisorNet Financial Inc grew its holdings in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. OFI Invest Asset Management bought a new stake in PACCAR in the third quarter valued at approximately $26,000. Finally, ST Germain D J Co. Inc. raised its holdings in PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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.