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

PACCAR (NASDAQ:PCAR - Free Report) had its price objective upped by The Goldman Sachs Group from $106.00 to $121.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently issued reports on PCAR. Bank of America upgraded shares of PACCAR from an underperform rating to a neutral rating and boosted their price objective for the company from $84.00 to $97.00 in a report on Friday, January 19th. Morgan Stanley initiated coverage on shares of PACCAR in a report on Monday, January 8th. They set an overweight rating and a $125.00 price objective for the company. TD Cowen upped 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. UBS Group upgraded shares of PACCAR from a neutral rating to a buy rating and upped their price target for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Royal Bank of Canada initiated coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a sector perform rating and a $123.00 price target for the company. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, PACCAR currently has a consensus rating of Moderate Buy and a consensus target price of $110.82.

PACCAR Trading Down 0.4 %

Shares of PCAR traded down $0.48 on Tuesday, reaching $117.54. 1,736,179 shares of the company's stock were exchanged, compared to its average volume of 2,277,372. The stock has a market capitalization of $61.59 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The business has a 50 day moving average price of $115.22 and a two-hundred day moving average price of $100.23. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.45. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 earnings per share. Research analysts anticipate that PACCAR will post 8.16 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR's dividend payout ratio is presently 12.31%.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company's stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company's stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 32,797 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock valued at $15,834,812 over the last 90 days. 2.02% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCAR. OFI Invest Asset Management bought a new position in shares of PACCAR in the third quarter valued at about $26,000. AdvisorNet Financial Inc raised its position in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company's stock valued at $27,000 after purchasing an additional 181 shares during the period. ST Germain D J Co. Inc. raised its position in shares of PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company's stock valued at $29,000 after purchasing an additional 130 shares during the period. Riverview Trust Co bought a new position in shares of PACCAR in the first quarter valued at about $29,000. Finally, Arlington Trust Co LLC bought a new position in shares of PACCAR in the third quarter valued at about $30,000. 64.90% of the stock is owned by institutional investors.

PACCAR Company 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.