PACCAR (NASDAQ:PCAR) Releases Earnings Results

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

PACCAR Stock Performance

PACCAR stock traded up $0.12 during midday trading on Friday, hitting $89.90. The company's stock had a trading volume of 3,729,160 shares, compared to its average volume of 2,754,165. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company has a market cap of $47.19 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 2.77 and a beta of 0.96. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a 50-day moving average price of $95.97 and a two-hundred day moving average price of $104.81.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.47%. PACCAR's payout ratio is presently 16.69%.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research analyst reports. Truist Financial dropped their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Melius Research set a $120.00 price objective on PACCAR in a research note on Tuesday, March 18th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup decreased their target price on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. downgraded PACCAR from an "overweight" rating to a "neutral" rating and cut their price target for the company from $105.00 to $90.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of "Hold" and an average target price of $107.23.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Institutional Investors Weigh In On PACCAR

A hedge fund recently raised its stake in PACCAR stock. Brighton Jones LLC grew its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 0.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,001 shares of the company's stock after buying an additional 290 shares during the quarter. Brighton Jones LLC's holdings in PACCAR were worth $9,258,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 64.90% of the company's stock.

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.