PACCAR (NASDAQ:PCAR) Shares Gap Up Following Strong Earnings

PACCAR Inc. (NASDAQ:PCAR - Get Free Report)'s share price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $92.91, but opened at $96.47. PACCAR shares last traded at $96.92, with a volume of 739,211 shares traded.

The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The business's revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the company earned $2.13 EPS.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is currently 20.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada decreased their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Truist Financial decreased their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen cut PACCAR from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Evercore ISI decreased their price objective on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Finally, Citigroup increased their price target on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of "Hold" and a consensus price target of $104.59.

Insider Buying and Selling at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director owned 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.02% of the company's stock.

Institutional Trading of PACCAR

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. grew its holdings in PACCAR by 33.1% during the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after acquiring an additional 116 shares during the period. RMR Wealth Builders grew its holdings in PACCAR by 1.4% during the first quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock worth $848,000 after acquiring an additional 122 shares during the period. Applied Capital LLC FL grew its holdings in PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock worth $2,455,000 after acquiring an additional 124 shares during the period. Nicolet Advisory Services LLC grew its holdings in PACCAR by 3.7% during the fourth quarter. Nicolet Advisory Services LLC now owns 3,502 shares of the company's stock worth $373,000 after acquiring an additional 125 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in PACCAR by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock worth $4,390,000 after acquiring an additional 130 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

The stock has a market capitalization of $50.85 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 3.50 and a beta of 0.94. The firm has a fifty day moving average of $94.71 and a 200 day moving average of $98.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19.

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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