Traders Purchase Large Volume of PACCAR Call Options (PCAR)

PACCAR Inc (NASDAQ:PCAR) saw some unusual options trading activity on Thursday. Traders purchased 2,606 call options on the stock. This is an increase of approximately 1,243% compared to the typical daily volume of 194 call options.

Shares of PACCAR (NASDAQ:PCAR) opened at $76.40 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56. The firm has a market cap of $26,571.18, a P/E ratio of 19.59, a P/E/G ratio of 1.61 and a beta of 1.22. PACCAR has a twelve month low of $61.93 and a twelve month high of $76.60.

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

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

Several analysts have recently issued reports on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $82.00 price target on shares of PACCAR in a research report on Thursday. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, January 2nd. Piper Jaffray Companies set a $67.00 price target on shares of PACCAR and gave the company a “hold” rating in a research report on Sunday, December 10th. Zacks Investment Research lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Finally, JPMorgan Chase & Co. lowered shares of PACCAR from an “overweight” rating to a “neutral” rating and set a $73.00 price target on the stock. in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $75.32.

In other news, VP Alma Lily Ley sold 4,024 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total value of $285,704.00. Following the sale, the vice president now owns 24,319 shares of the company’s stock, valued at $1,726,649. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the completion of the sale, the insider now directly owns 2,985,401 shares in the company, valued at approximately $213,068,069.37. The disclosure for this sale can be found here. In the last three months, insiders sold 106,598 shares of company stock worth $7,597,908. Insiders own 2.64% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after buying an additional 300 shares in the last quarter. Sun Life Financial INC grew its stake in PACCAR by 19,884.6% in the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after buying an additional 2,585 shares in the last quarter. Hartland & Co. LLC purchased a new position in PACCAR in the 3rd quarter worth approximately $206,000. BB&T Securities LLC purchased a new position in PACCAR in the 3rd quarter worth approximately $210,000. Finally, Brown Advisory Securities LLC purchased a new position in PACCAR in the 3rd quarter worth approximately $214,000. 62.26% of the stock is owned by institutional investors and hedge funds.

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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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