PACCAR (NASDAQ:PCAR) Posts Earnings Results

PACCAR (NASDAQ:PCAR - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04), Zacks reports. PACCAR had a net margin of 13.51% and a return on equity of 27.24%.

PACCAR Stock Down 2.4 %

NASDAQ:PCAR traded down $2.66 during mid-day trading on Tuesday, hitting $107.25. 4,427,368 shares of the company's stock traded hands, compared to its average volume of 2,342,274. The company has a fifty day moving average of $110.51 and a 200 day moving average of $104.42. PACCAR has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a market capitalization of $56.23 billion, a P/E ratio of 11.98, a P/E/G ratio of 2.77 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. This is a positive change from PACCAR's previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR's dividend payout ratio is currently 13.41%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PCAR shares. 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. JPMorgan Chase & Co. lifted their price objective on PACCAR from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. BNP Paribas raised PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Jefferies Financial Group cut 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 boosted their price objective on PACCAR from $110.00 to $112.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, PACCAR has a consensus rating of "Moderate Buy" and a consensus target price of $121.23.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the company's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is currently owned by corporate insiders.

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.