PACCAR (NASDAQ:PCAR) Releases Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• PACCAR reported earnings of $1.12 per share, falling short of analysts' expectations by $0.02, with a notable 20.7% decrease in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.33, which reflects an annualized yield of 1.4% and a dividend payout ratio of 22.60%.
• Insider sales included significant repositioning, with CEO R Preston Feight selling nearly 40,000 shares, representing a 15.19% decrease in his ownership stake in the company.

PACCAR (NASDAQ:PCAR - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $1.12 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.02), Briefing.com reports. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. During the same quarter in the prior year, the firm earned $1.85 EPS. The firm's revenue was down 20.7% compared to the same quarter last year.

PACCAR Trading Up 2.9%

Shares of PCAR opened at $97.48 on Tuesday. The business's 50-day moving average price is $98.48 and its 200 day moving average price is $95.48. The stock has a market capitalization of $51.19 billion, a P/E ratio of 16.69, a P/E/G ratio of 3.87 and a beta of 0.94. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

Institutional investors and hedge funds have recently bought and sold shares of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in PACCAR during the 2nd quarter valued at about $81,000. MUFG Securities EMEA plc purchased a new position in PACCAR during the 2nd quarter valued at about $147,000. B. Riley Wealth Advisors Inc. purchased a new position in PACCAR during the 2nd quarter valued at about $261,000. Lazard Asset Management LLC grew its stake in PACCAR by 3.3% during the 2nd quarter. Lazard Asset Management LLC now owns 4,564 shares of the company's stock valued at $433,000 after acquiring an additional 144 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of PACCAR during the 2nd quarter valued at about $570,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PCAR. Truist Financial set a $97.00 price objective on shares of PACCAR and gave the company a "hold" rating in a research note on Wednesday, October 8th. Vertical Research raised PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Finally, Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.14.

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.

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