PACCAR Inc (NASDAQ:PCAR – Get Free Report)’s share price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $109.06, but opened at $98.62. PACCAR shares last traded at $102.18, with a volume of 473,289 shares traded.
The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the prior year, the business earned $2.33 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year.
PACCAR Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.
Wall Street Analyst Weigh In
View Our Latest Research Report on PACCAR
Insiders Place Their Bets
In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock worth $4,779,241 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of PCAR. Brookstone Capital Management bought a new position in shares of PACCAR during the 4th quarter valued at $224,000. HB Wealth Management LLC raised its holdings in shares of PACCAR by 15.9% during the 4th quarter. HB Wealth Management LLC now owns 5,797 shares of the company’s stock valued at $566,000 after purchasing an additional 796 shares in the last quarter. Raymond James & Associates raised its holdings in PACCAR by 121.1% in the 4th quarter. Raymond James & Associates now owns 175,990 shares of the company’s stock worth $17,185,000 after acquiring an additional 96,375 shares during the period. CVA Family Office LLC bought a new position in PACCAR in the 4th quarter worth $71,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in PACCAR by 18.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock worth $10,450,000 after acquiring an additional 16,360 shares during the period. Institutional investors own 64.90% of the company’s stock.
PACCAR Stock Down 6.9 %
The stock has a market cap of $53.20 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.29 and a beta of 0.92. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average is $106.03 and its 200 day moving average is $108.61.
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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