Stock Traders Purchase High Volume of PACCAR Put Options (NASDAQ:PCAR)

PACCAR Inc. (NASDAQ:PCAR) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 7,102 put options on the stock. This is an increase of 1,027% compared to the average volume of 630 put options.

PACCAR Stock Performance

PCAR opened at $118.22 on Thursday. The business’s 50-day simple moving average is $127.88 and its 200 day simple moving average is $121.57. PACCAR has a 52-week low of $92.25 and a 52-week high of $139.24. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The firm has a market capitalization of $62.23 billion, a PE ratio of 24.84, a PEG ratio of 1.40 and a beta of 0.96.

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

PACCAR Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. PACCAR’s payout ratio is currently 29.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Truist Financial lifted their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Royal Bank Of Canada upgraded shares of PACCAR from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $130.00 to $150.00 in a research report on Thursday, September 10th. Citigroup lifted their target price on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley set a $125.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, September 4th. Three analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $133.91.

Insider Activity

In other news, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the transaction, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the transaction, the chief financial officer directly owned 1,391 shares in the company, valued at $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 56,842 shares of company stock worth $7,565,677. Corporate insiders own 1.99% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Compass Financial Management LLC acquired a new stake in shares of PACCAR in the second quarter valued at approximately $28,000. Paladin Partners LLC acquired a new position in PACCAR in the 2nd quarter valued at $27,000. Fiduciary Financial Advisors acquired a new stake in shares of PACCAR during the 2nd quarter worth $28,000. Continuum Advisory LLC acquired a new position in PACCAR in the second quarter valued at about $29,000. Finally, Steph & Co. bought a new stake in shares of PACCAR during the 1st quarter worth approximately $29,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

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.