PACCAR (NASDAQ:PCAR) Announces Quarterly Earnings Results

PACCAR (NASDAQ:PCAR - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.07, Briefing.com reports. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.25 earnings per share.

PACCAR Price Performance

Shares of PCAR traded down $7.53 during mid-day trading on Tuesday, hitting $106.11. 7,370,121 shares of the company traded hands, compared to its average volume of 2,411,904. The business has a 50-day moving average of $116.69 and a 200 day moving average of $102.18. PACCAR has a one year low of $68.40 and a one year high of $125.50. The stock has a market capitalization of $55.60 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.68 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. This is a boost from PACCAR's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR's dividend payout ratio is 12.31%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,320 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction on 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 $10,984,265.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The disclosure for this sale can be found here. Insiders have sold 66,946 shares of company stock worth $7,003,148 over the last ninety days. Company insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of analyst reports. Truist Financial initiated coverage on shares of PACCAR in a research note on Thursday, March 14th. They issued a "hold" rating and a $117.00 target price on the stock. UBS Group raised 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. Royal Bank of Canada initiated coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 target price on the stock. TD Cowen upped their price objective on shares of PACCAR from $91.00 to $108.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 24th. Finally, Bank of America raised shares of PACCAR from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $113.08.

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.