PACCAR (NASDAQ:PCAR) Shares Gap Down After Earnings Miss

PACCAR Inc (NASDAQ:PCAR)’s share price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $109.91, but opened at $106.16. PACCAR shares last traded at $107.55, with a volume of 300,838 shares trading hands.

The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Analysts Set New Price Targets

Several brokerages have weighed in on PCAR. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Finally, Truist Financial increased their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.32.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Madrona Financial Services LLC raised its stake in shares of PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after acquiring an additional 91 shares in the last quarter. CVA Family Office LLC grew its stake in PACCAR by 13.3% during the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after purchasing an additional 97 shares during the last quarter. Global Financial Private Client LLC increased its holdings in PACCAR by 1.0% in the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after buying an additional 97 shares during the period. Omnia Family Wealth LLC increased its stake in shares of PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after acquiring an additional 98 shares during the period. Finally, Grove Bank & Trust raised its holdings in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Up 3.4 %

The business’s 50-day moving average is $110.45 and its 200-day moving average is $104.45. The company has a market capitalization of $58.14 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 2.77 and a beta of 0.93. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

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.