PACCAR Inc. $PCAR Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its holdings in PACCAR Inc. by 7.3% during the first quarter, now owning approximately 3.89 million shares valued at $378.98 million.
• Several other hedge funds also adjusted their positions in PACCAR, with institutional investors owning 64.90% of the company's stock.
• PACCAR recently announced a quarterly dividend of $0.33 per share, resulting in an annualized yield of 1.3%, with a low payout ratio of 22.60%.

Goldman Sachs Group Inc. grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,892,149 shares of the company's stock after buying an additional 264,183 shares during the quarter. Goldman Sachs Group Inc. owned 0.74% of PACCAR worth $378,979,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. FORA Capital LLC bought a new position in shares of PACCAR during the first quarter valued at approximately $597,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in PACCAR by 15.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock worth $77,404,000 after purchasing an additional 104,281 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in PACCAR by 62.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock worth $3,533,000 after purchasing an additional 13,904 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in PACCAR by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after purchasing an additional 4,429 shares in the last quarter. Finally, Moran Wealth Management LLC grew its stake in PACCAR by 28.8% in the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after purchasing an additional 52,525 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Up 0.7%

Shares of PCAR traded up $0.75 during midday trading on Friday, hitting $102.51. 3,812,113 shares of the company's stock traded hands, compared to its average volume of 1,994,338. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The firm's fifty day moving average is $98.48 and its 200-day moving average is $96.16. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $53.83 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 4.09 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the prior year, the firm earned $2.13 EPS. The firm's revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

Analyst Ratings Changes

PCAR has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup increased their price objective on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on PACCAR and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Finally, Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

PACCAR 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.