PACCAR Sees Unusually Large Options Volume (NASDAQ:PCAR)

PACCAR Inc. (NASDAQ:PCAR) was the target of some unusual options trading activity on Tuesday. Traders purchased 7,102 put options on the company. This represents an increase of 1,027% compared to the average volume of 630 put options.

PACCAR Price Performance

Shares of PCAR traded down $0.23 during mid-day trading on Tuesday, hitting $122.63. 614,498 shares of the company traded hands, compared to its average volume of 3,096,662. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $64.55 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.41 and a beta of 0.96. The business has a 50-day moving average of $128.01 and a 200 day moving average of $121.62. PACCAR has a one year low of $92.25 and a one year high of $139.24.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 EPS. As a group, equities analysts expect that PACCAR will post 5.91 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 12th. PACCAR’s dividend payout ratio is 29.41%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a research report on Friday, September 4th. Citigroup boosted their price objective on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Truist Financial boosted their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.91.

Insider Activity

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. This represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. Insiders sold 56,842 shares of company stock worth $7,565,677 in the last 90 days. Insiders own 1.99% of the company’s stock.

Institutional Trading of PACCAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new position in PACCAR in the second quarter valued at approximately $16,286,000. Nomura Asset Management Co. Ltd. raised its position in shares of PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after acquiring an additional 9,524 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after purchasing an additional 50,622 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new position in shares of PACCAR in the 1st quarter worth $9,273,000. Finally, Mengis Capital Management Inc. grew its stake in shares of PACCAR by 16.1% during the fourth quarter. Mengis Capital Management Inc. now owns 111,486 shares of the company’s stock worth $12,209,000 after purchasing an additional 15,440 shares during the period. 64.90% of the stock is owned by institutional investors.

About PACCAR

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.