Short Interest in PACCAR Inc (NASDAQ:PCAR) Increases By 6.0%

PACCAR Inc (NASDAQ:PCAR) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 9,506,400 shares, a growth of 6.0% from the May 15th total of 8,970,100 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,600,000 shares, the short-interest ratio is presently 5.9 days.

In other news, VP C Michael Dozier sold 12,638 shares of PACCAR stock in a transaction 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 completion of the sale, the vice president now owns 8,401 shares of the company’s stock, valued at $581,097.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Darrin C. Siver sold 5,067 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $70.10, for a total value of $355,196.70. Following the sale, the insider now directly owns 23,193 shares of the company’s stock, valued at approximately $1,625,829.30. The disclosure for this sale can be found here. Insiders have sold 22,301 shares of company stock valued at $1,554,065 in the last three months. 2.32% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new stake in PACCAR in the fourth quarter worth $2,223,000. Cambridge Investment Research Advisors Inc. lifted its position in PACCAR by 31.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,712 shares of the company’s stock worth $498,000 after buying an additional 2,061 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in PACCAR by 39.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 134,782 shares of the company’s stock worth $7,701,000 after buying an additional 38,224 shares during the last quarter. LPL Financial LLC lifted its position in PACCAR by 4.0% in the fourth quarter. LPL Financial LLC now owns 20,036 shares of the company’s stock worth $1,145,000 after buying an additional 769 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in PACCAR by 15.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 120,002 shares of the company’s stock worth $6,865,000 after buying an additional 15,942 shares during the last quarter. Hedge funds and other institutional investors own 63.30% of the company’s stock.

PCAR has been the topic of a number of recent research reports. Longbow Research cut Rush Enterprises from a “buy” rating to a “neutral” rating in a research note on Monday, May 6th. BMO Capital Markets boosted their price target on PACCAR to $70.00 and gave the stock a “market perform” rating in a research note on Friday, May 17th. Zacks Investment Research cut HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Loop Capital cut Ryder System from a “buy” rating to a “hold” rating and cut their price objective for the company from $70.00 to $62.00 in a research note on Tuesday, July 2nd. Finally, BidaskClub upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, July 4th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.31.

Shares of PCAR stock opened at $72.13 on Friday. PACCAR has a 12-month low of $53.43 and a 12-month high of $73.00. The company has a market cap of $24.99 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The business has a 50 day simple moving average of $69.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.49 and a quick ratio of 2.32.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.16. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the company posted $1.45 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, sell-side analysts forecast that PACCAR will post 6.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th will be given a $0.32 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.77%. PACCAR’s dividend payout ratio (DPR) is 20.51%.

About PACCAR

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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