Investors Buy PACCAR (PCAR) on Weakness

Traders purchased shares of PACCAR Inc (NASDAQ:PCAR) on weakness during trading on Tuesday. $56.31 million flowed into the stock on the tick-up and $24.56 million flowed out of the stock on the tick-down, for a money net flow of $31.75 million into the stock. Of all stocks tracked, PACCAR had the 18th highest net in-flow for the day. PACCAR traded down ($0.03) for the day and closed at $74.83

PCAR has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price objective on shares of PACCAR in a report on Friday, October 20th. Jefferies Group restated a “buy” rating and issued a $85.00 price target on shares of PACCAR in a report on Thursday, October 19th. Citigroup increased their price target on PACCAR from $78.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, October 13th. UBS Group restated a “buy” rating and issued a $82.00 price target (up from $76.00) on shares of PACCAR in a report on Tuesday, October 3rd. Finally, Royal Bank of Canada restated a “buy” rating and issued a $77.00 price target on shares of PACCAR in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. PACCAR has a consensus rating of “Hold” and an average target price of $75.05.

The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75. The firm has a market cap of $26,310.00, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.60 and a beta of 1.22.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. PACCAR’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. equities analysts predict that PACCAR Inc will post 4.19 EPS for the current fiscal year.

The company also recently disclosed a special dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, December 13th. This represents a dividend yield of 1.4%. PACCAR’s dividend payout ratio is currently 25.64%.

In other news, VP Alma Lily Ley sold 4,024 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the transaction, the vice president now directly owns 24,319 shares of the company’s stock, valued at $1,726,649. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP C Michael Dozier sold 3,618 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.02, for a total value of $249,714.36. The disclosure for this sale can be found here. Insiders have sold 106,598 shares of company stock valued at $7,597,908 over the last ninety days. 2.64% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of PACCAR by 6.6% during the second quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock worth $1,684,572,000 after buying an additional 1,572,038 shares during the period. Vanguard Group Inc. boosted its position in PACCAR by 5.0% during the second quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock valued at $1,621,636,000 after purchasing an additional 1,164,896 shares during the last quarter. Bank of New York Mellon Corp boosted its position in PACCAR by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 6,765,314 shares of the company’s stock valued at $489,402,000 after purchasing an additional 694,185 shares during the last quarter. Victory Capital Management Inc. boosted its position in PACCAR by 5.5% during the third quarter. Victory Capital Management Inc. now owns 2,806,586 shares of the company’s stock valued at $203,028,000 after purchasing an additional 145,932 shares during the last quarter. Finally, Boston Partners acquired a new position in PACCAR during the third quarter valued at approximately $155,973,000. 62.26% of the stock is owned by institutional investors.

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About PACCAR

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

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