PACCAR Sees Unusually Large Options Volume (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCAR) saw some unusual options trading activity on Wednesday. Traders bought 2,591 put options on the stock. This is an increase of 40% compared to the typical daily volume of 1,847 put options.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Evercore ISI raised their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. The Goldman Sachs Group lifted their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Royal Bank of Canada started coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Finally, Truist Financial reaffirmed a “hold” rating and issued a $121.00 price target (up from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Price Performance

NASDAQ:PCAR opened at $108.87 on Friday. The stock has a 50 day moving average price of $114.63 and a 200 day moving average price of $104.81. The stock has a market cap of $57.06 billion, a PE ratio of 11.29, a P/E/G ratio of 1.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. PACCAR has a one year low of $68.40 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that PACCAR will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The company 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 $0.30 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.10%. PACCAR’s dividend payout ratio is 12.45%.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by insiders.

Institutional Trading of PACCAR

Several institutional investors have recently made changes to their positions in PCAR. Massachusetts Financial Services Co. MA boosted its stake in PACCAR by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after buying an additional 23,865 shares during the period. Northern Trust Corp increased its holdings in PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after purchasing an additional 316,001 shares during the last quarter. Fisher Asset Management LLC raised its position in PACCAR by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock valued at $480,104,000 after purchasing an additional 89,984 shares during the period. Norges Bank acquired a new position in PACCAR during the fourth quarter worth $448,288,000. Finally, Capital International Investors boosted its position in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after buying an additional 1,225,468 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.