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

PACCAR (NASDAQ:PCAR) had its target price hoisted by The Goldman Sachs Group from $106.00 to $121.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

PCAR has been the topic of several other reports. Evercore ISI raised their target price on shares of PACCAR from $94.00 to $101.00 and gave the company an in-line rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $135.00 to $140.00 and gave the company an overweight rating in a research note on Monday. Truist Financial started coverage on PACCAR in a research note on Thursday, March 14th. They set a hold rating and a $117.00 target price for the company. Bank of America raised PACCAR from an underperform rating to a neutral rating and raised their target price for the company from $84.00 to $97.00 in a report on Friday, January 19th. Finally, UBS Group raised PACCAR from a neutral rating to a buy rating and boosted their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $110.82.

PACCAR Stock Down 1.9 %

NASDAQ PCAR opened at $113.76 on Tuesday. The company has a market cap of $59.61 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.74 and a beta of 0.92. PACCAR has a 1-year low of $68.40 and a 1-year high of $125.50. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $115.86 and a 200-day moving average of $100.66.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. 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 ninety days. Company insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its position in PACCAR by 18.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after acquiring an additional 16,360 shares during the last quarter. Aigen Investment Management LP acquired a new stake in PACCAR during the third quarter worth approximately $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in PACCAR by 42.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock worth $47,518,000 after purchasing an additional 166,628 shares in the last quarter. Pacer Advisors Inc. lifted its stake in PACCAR by 29.6% in the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after buying an additional 16,390 shares during the period. Finally, Nilsine Partners LLC bought a new position in shares of PACCAR during the 4th quarter worth approximately $1,337,000. Institutional investors own 64.90% of the company’s stock.

About PACCAR

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.