Stock Traders Buy Large Volume of PACCAR Call Options (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCAR) was the target of unusually large options trading activity on Thursday. Stock investors bought 2,606 call options on the company. This represents an increase of 1,243% compared to the average volume of 194 call options.

In related news, VP C Michael Dozier sold 3,618 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $69.02, for a total transaction of $249,714.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark C. Pigott sold 98,956 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the sale, the insider now owns 2,985,401 shares in the company, valued at $213,068,069.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,598 shares of company stock worth $7,597,908. 2.64% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PCAR. Oppenheimer & Co. Inc. grew its position in shares of PACCAR by 8.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,360 shares of the company’s stock valued at $222,000 after acquiring an additional 257 shares during the period. Schroder Investment Management Group grew its position in shares of PACCAR by 500.7% in the 2nd quarter. Schroder Investment Management Group now owns 116,140 shares of the company’s stock valued at $7,585,000 after acquiring an additional 96,806 shares during the period. CIBC World Markets Inc. grew its position in shares of PACCAR by 2.2% in the 2nd quarter. CIBC World Markets Inc. now owns 5,989 shares of the company’s stock valued at $396,000 after acquiring an additional 131 shares during the period. Wells Fargo & Company MN grew its position in shares of PACCAR by 8.5% in the 2nd quarter. Wells Fargo & Company MN now owns 651,610 shares of the company’s stock valued at $43,033,000 after acquiring an additional 51,097 shares during the period. Finally, AXA grew its position in shares of PACCAR by 1.0% in the 2nd quarter. AXA now owns 48,125 shares of the company’s stock valued at $3,178,000 after acquiring an additional 500 shares during the period. 62.17% of the stock is owned by institutional investors.

PACCAR (NASDAQ:PCAR) opened at $77.64 on Tuesday. PACCAR has a 12-month low of $61.93 and a 12-month high of $77.74. The company has a market cap of $27,253.31, a PE ratio of 19.91, a PEG ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. sell-side analysts expect that PACCAR will post 4.19 earnings per share for the current year.

The company also recently disclosed a special dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were given a $1.20 dividend. This represents a dividend yield of 1.4%. The ex-dividend date was Wednesday, December 13th. PACCAR’s dividend payout ratio (DPR) is presently 25.64%.

A number of equities research analysts recently commented on PCAR shares. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, September 26th. Royal Bank of Canada restated a “buy” rating and set a $77.00 price objective on shares of PACCAR in a report on Tuesday, October 3rd. UBS Group restated a “buy” rating and set a $82.00 price objective (up from $76.00) on shares of PACCAR in a report on Tuesday, October 3rd. JPMorgan Chase & Co. upgraded shares of PACCAR from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $83.00 in a research note on Wednesday, October 4th. Finally, Wells Fargo & Co lifted their price target on shares of PACCAR from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. PACCAR presently has a consensus rating of “Hold” and an average target price of $75.58.

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About PACCAR

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

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