Goldman Sachs Group Inc. Has $476.97 Million Position in PACCAR Inc. $PCAR

Goldman Sachs Group Inc. raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 17.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,355,510 shares of the company’s stock after buying an additional 639,204 shares during the period. Goldman Sachs Group Inc.’s holdings in PACCAR were worth $476,972,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ares Financial Consulting LLC bought a new position in shares of PACCAR in the fourth quarter valued at $27,000. Elyxium Wealth LLC bought a new stake in shares of PACCAR during the fourth quarter worth about $30,000. Camelot Portfolios LLC acquired a new stake in shares of PACCAR in the 4th quarter worth about $33,000. Wealth Watch Advisors INC bought a new position in PACCAR in the 3rd quarter valued at about $32,000. Finally, True Wealth Design LLC lifted its position in PACCAR by 61.1% in the 4th quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Citigroup reiterated a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Truist Financial increased their price target on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Finally, Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $122.00.

PACCAR Stock Performance

PCAR stock opened at $118.07 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The firm has a market cap of $62.14 billion, a PE ratio of 25.12, a P/E/G ratio of 1.06 and a beta of 0.98. The business has a 50 day moving average of $117.35 and a 200-day moving average of $116.79. PACCAR Inc. has a 12-month low of $90.05 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the company posted $1.46 earnings per share. PACCAR’s quarterly revenue was down 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.