PACCAR (NASDAQ:PCAR) Announces Quarterly Earnings Results

PACCAR (NASDAQ:PCAR - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12), Zacks reports. The company had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. PACCAR's quarterly revenue was down 16.0% compared to the same quarter last year. During the same period last year, the firm posted $2.27 earnings per share.

PACCAR Stock Performance

PCAR traded up $1.50 during trading on Friday, hitting $91.28. The company's stock had a trading volume of 189,345 shares, compared to its average volume of 2,746,267. The business's 50 day simple moving average is $96.31 and its 200-day simple moving average is $104.94. The firm has a market cap of $47.91 billion, a PE ratio of 11.54, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR has a one year low of $84.65 and a one year high of $118.81. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

Insider Activity at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company's stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Institutional Trading of PACCAR

A hedge fund recently raised its stake in PACCAR stock. Brighton Jones LLC lifted its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,001 shares of the company's stock after purchasing an additional 290 shares during the quarter. Brighton Jones LLC's holdings in PACCAR were worth $9,258,000 at the end of the most recent reporting period. Institutional investors own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PCAR. Truist Financial dropped their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $108.00 to $78.00 in a report on Monday, April 7th. JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $105.00 to $90.00 in a report on Wednesday. StockNews.com downgraded shares of PACCAR from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Evercore ISI reduced their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of "Hold" and a consensus target price of $107.23.

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.