PACCAR Inc (NASDAQ:PCAR) – Equities research analysts at Piper Jaffray Companies boosted their FY2019 earnings estimates for shares of PACCAR in a research report issued on Thursday, May 2nd, Zacks Investment Research reports. Piper Jaffray Companies analyst A. Potter now anticipates that the company will post earnings of $6.52 per share for the year, up from their previous forecast of $6.48. Piper Jaffray Companies currently has a “Overweight” rating and a $75.00 target price on the stock. Piper Jaffray Companies also issued estimates for PACCAR’s FY2021 earnings at $5.93 EPS and FY2022 earnings at $6.43 EPS.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.16. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the previous year, the business earned $1.45 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis.
Shares of NASDAQ PCAR traded up $0.53 during trading on Monday, reaching $68.04. The stock had a trading volume of 762,056 shares, compared to its average volume of 1,966,055. PACCAR has a fifty-two week low of $53.43 and a fifty-two week high of $73.00. The company has a current ratio of 2.49, a quick ratio of 2.32 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $23.57 billion, a PE ratio of 10.90, a PEG ratio of 1.19 and a beta of 1.24.
A number of large investors have recently made changes to their positions in PCAR. Clearbridge Investments LLC grew its stake in shares of PACCAR by 11.0% during the first quarter. Clearbridge Investments LLC now owns 7,070 shares of the company’s stock valued at $482,000 after acquiring an additional 700 shares in the last quarter. Allstate Corp grew its stake in shares of PACCAR by 29.4% during the first quarter. Allstate Corp now owns 7,853 shares of the company’s stock valued at $535,000 after acquiring an additional 1,782 shares in the last quarter. Columbia Asset Management acquired a new stake in shares of PACCAR during the first quarter valued at about $117,000. Nordea Investment Management AB grew its stake in shares of PACCAR by 1.7% during the first quarter. Nordea Investment Management AB now owns 834,277 shares of the company’s stock valued at $56,847,000 after acquiring an additional 13,742 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of PACCAR during the first quarter valued at about $204,000. Hedge funds and other institutional investors own 63.36% of the company’s stock.
In related news, VP C Michael Dozier sold 12,638 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $69.17, for a total value of $874,170.46. Following the sale, the vice president now owns 8,401 shares in the company, valued at approximately $581,097.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David J. Danforth sold 4,315 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $70.69, for a total value of $305,027.35. Following the sale, the vice president now owns 7,286 shares in the company, valued at approximately $515,047.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,301 shares of company stock worth $1,554,065. Insiders own 2.32% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, May 13th. PACCAR’s dividend payout ratio is currently 20.51%.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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