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

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

Several other brokerages have also issued reports on PCAR. Evercore ISI lifted their price target 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. Morgan Stanley began coverage on shares of PACCAR in a report on Monday, January 8th. They set an overweight rating and a $125.00 price target on the stock. Truist Financial began coverage on shares of PACCAR in a report on Thursday, March 14th. They set a hold rating and a $117.00 price target on the stock. TD Cowen lifted their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a market perform rating in a report on Wednesday, January 24th. Finally, Royal Bank of Canada assumed coverage on shares of PACCAR in a report on Tuesday, March 26th. They set a sector perform rating and a $123.00 target price on the stock. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $110.82.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $117.54 on Tuesday. The firm has a 50 day moving average of $115.48 and a 200-day moving average of $100.46. The stock has a market capitalization of $61.59 billion, a PE ratio of 13.40, a PEG ratio of 1.79 and a beta of 0.92. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. PACCAR has a 12 month low of $68.40 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its 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. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.76 EPS. On average, equities research analysts predict that PACCAR will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.92%. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,589,751.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction on Friday, January 26th. The shares were 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 in the company, valued at approximately $10,589,751.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now owns 5,726 shares in the company, valued at approximately $584,739.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,496 shares of company stock worth $15,834,812. Company insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. OneAscent Wealth Management LLC acquired a new position in shares of PACCAR during the 1st quarter valued at $225,000. Indiana Trust & Investment Management CO lifted its position in shares of PACCAR by 337.9% during the 1st quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock valued at $67,000 after acquiring an additional 419 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of PACCAR during the 1st quarter valued at $3,605,000. Vanguard Capital Wealth Advisors acquired a new position in shares of PACCAR during the 1st quarter valued at $213,000. Finally, RMR Wealth Builders lifted its position in shares of PACCAR by 3.8% during the 1st quarter. RMR Wealth Builders now owns 8,920 shares of the company’s stock valued at $1,105,000 after acquiring an additional 329 shares during the period. Institutional investors and hedge funds 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.