Goldman Sachs Group Inc. Buys 639,204 Shares of PACCAR Inc. $PCAR

Goldman Sachs Group Inc. grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 17.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,355,510 shares of the company’s stock after buying an additional 639,204 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.83% of PACCAR worth $476,972,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after acquiring an additional 363,782 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Norges Bank acquired a new stake in shares of PACCAR during the fourth quarter valued at about $727,745,000. Capital Research Global Investors grew its holdings in shares of PACCAR by 20.3% during the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after purchasing an additional 1,009,134 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of PACCAR by 3.5% during the third quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock worth $530,622,000 after purchasing an additional 184,502 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PCAR. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. BNP Paribas Exane assumed coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target on the stock. Finally, Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $122.00.

PACCAR Price Performance

Shares of PCAR opened at $118.07 on Friday. The firm has a market cap of $62.14 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 1.06 and a beta of 0.98. PACCAR Inc. has a 52-week low of $90.05 and a 52-week high of $131.88. The business’s 50 day moving average price is $117.35 and its two-hundred day moving average price is $116.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. On average, equities analysts anticipate that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

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

PACCAR Profile

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.