PACCAR (NASDAQ:PCAR) Price Target Raised to $121.00

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

Other research analysts also recently issued reports about the stock. Evercore ISI upped their target price on shares of PACCAR from $94.00 to $101.00 and gave the company an in-line rating in a research note on Tuesday, February 20th. UBS Group upgraded shares of PACCAR from a neutral rating to a buy rating and upped their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Morgan Stanley started coverage on shares of PACCAR in a research note on Monday, January 8th. They set an overweight rating and a $125.00 price objective on the stock. Truist Financial started coverage on shares of PACCAR in a research note on Thursday, March 14th. They set a hold rating and a $117.00 price objective on the stock. Finally, Royal Bank of Canada started coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a sector perform rating and a $123.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PACCAR currently has an average rating of Moderate Buy and a consensus target price of $110.82.

PACCAR Price Performance

Shares of PCAR stock opened at $111.19 on Tuesday. The company has a market capitalization of $58.26 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.71 and a beta of 0.92. The firm has a fifty day simple moving average of $115.97 and a 200-day simple moving average of $100.85. 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 twelve month low of $68.40 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.76 earnings per share. Equities research analysts anticipate that PACCAR will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm 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 of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.97%. PACCAR’s payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at $584,739.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is currently owned by insiders.

Institutional Trading of PACCAR

Hedge funds have recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in PACCAR in the 3rd quarter valued at about $26,000. AdvisorNet Financial Inc increased its stake in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the period. ST Germain D J Co. Inc. increased its stake in PACCAR by 61.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 130 shares during the period. Riverview Trust Co acquired a new position in PACCAR during the 1st quarter valued at about $29,000. Finally, Arlington Trust Co LLC acquired a new position in PACCAR during the 3rd quarter valued at about $30,000. 64.90% of the stock is currently owned by institutional investors.

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.