PACCAR (NASDAQ:PCAR) Announces Earnings Results

PACCAR (NASDAQ:PCAR) announced its quarterly earnings data on Tuesday. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07, Briefing.com reports. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.PACCAR’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $133.44 on Tuesday. PACCAR has a fifty-two week low of $92.25 and a fifty-two week high of $134.27. The company’s 50-day moving average is $119.44 and its 200 day moving average is $120.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The company has a market capitalization of $70.23 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 1.21 and a beta of 0.97.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, August 12th. PACCAR’s payout ratio is presently 29.79%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCAR. Parkside Financial Bank & Trust grew its position in shares of PACCAR by 3.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after acquiring an additional 87 shares during the period. Inspire Advisors LLC lifted its stake in PACCAR by 1.5% in the fourth quarter. Inspire Advisors LLC now owns 7,458 shares of the company’s stock valued at $817,000 after purchasing an additional 113 shares during the last quarter. L2 Asset Management LLC lifted its stake in PACCAR by 5.2% in the third quarter. L2 Asset Management LLC now owns 2,467 shares of the company’s stock valued at $243,000 after purchasing an additional 122 shares during the last quarter. Financial Engines Advisors L.L.C. grew its holdings in PACCAR by 4.9% during the third quarter. Financial Engines Advisors L.L.C. now owns 2,893 shares of the company’s stock valued at $284,000 after purchasing an additional 134 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in PACCAR by 3.3% during the second quarter. Lazard Asset Management LLC now owns 4,564 shares of the company’s stock valued at $433,000 after purchasing an additional 144 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PCAR. Citigroup reiterated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Truist Financial lifted their price objective on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Morgan Stanley increased their target price on shares of PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Evercore set a $139.00 price objective on shares of PACCAR in a research report on Monday, May 11th. Finally, Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus price target of $124.50.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.