PACCAR Sees Unusually Large Options Volume (PCAR)

PACCAR Inc (NASDAQ:PCAR) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 2,606 call options on the stock. This represents an increase of 1,243% compared to the typical daily volume of 194 call options.

In related news, insider Mark C. Pigott sold 98,956 shares of PACCAR stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $71.37, for a total value of $7,062,489.72. Following the sale, the insider now directly owns 2,985,401 shares in the company, valued at approximately $213,068,069.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.02, for a total transaction of $249,714.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,598 shares of company stock worth $7,597,908. 2.64% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in shares of PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after purchasing an additional 300 shares during the last quarter. Sun Life Financial INC grew its stake in shares of PACCAR by 19,884.6% in the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after purchasing an additional 2,585 shares during the last quarter. Institute for Wealth Management LLC. acquired a new position in shares of PACCAR in the 2nd quarter worth approximately $201,000. Cetera Investment Advisers acquired a new position in shares of PACCAR in the 2nd quarter worth approximately $204,000. Finally, Hartland & Co. LLC acquired a new position in shares of PACCAR in the 3rd quarter worth approximately $206,000. 62.26% of the stock is currently owned by institutional investors.

PACCAR (PCAR) opened at $76.40 on Friday. The stock has a market cap of $26,571.18, a P/E ratio of 19.59, a PEG ratio of 1.61 and a beta of 1.22. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75. PACCAR has a 52 week low of $61.93 and a 52 week high of $76.60.

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

The firm also recently disclosed a special dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were paid a $1.20 dividend. 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%.

A number of analysts have commented on the stock. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, September 26th. Citigroup boosted their price target on shares of PACCAR from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. BidaskClub upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Finally, BMO Capital Markets restated a “buy” rating and set a $85.00 price target on shares of PACCAR in a research report on Friday, October 20th. One equities research 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. The company currently has an average rating of “Hold” and a consensus target price of $75.32.

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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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