PACCAR Inc (NASDAQ:PCAR) Short Interest Down 24.4% in December

PACCAR Inc (NASDAQ:PCAR) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 8,460,000 shares, a decline of 24.4% from the December 15th total of 11,190,000 shares. Based on an average daily volume of 2,370,000 shares, the short-interest ratio is presently 3.6 days.

Insider Activity

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 over the last three months. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Everence Capital Management Inc. bought a new stake in shares of PACCAR during the 4th quarter valued at $1,984,000. Sanctuary Advisors LLC boosted its holdings in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. increased its stake in shares of PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after purchasing an additional 5,433 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in shares of PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR traded down $0.57 during mid-day trading on Wednesday, hitting $109.63. 2,062,875 shares of the stock were exchanged, compared to its average volume of 2,210,886. The firm’s 50-day simple moving average is $111.37 and its 200 day simple moving average is $103.89. The stock has a market capitalization of $57.48 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter last year, the firm earned $2.34 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. As a group, equities analysts anticipate that PACCAR will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 14.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PCAR shares. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Truist Financial boosted their price target on PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. Finally, Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $119.96.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.