PACCAR Sees Unusually Large Options Volume (PCAR)
PACCAR Inc (NASDAQ:PCAR) was the target of some unusual options trading activity on Thursday. Stock traders acquired 2,606 call options on the company. This is an increase of 1,243% compared to the average daily volume of 194 call options.
Several research analysts have weighed in on the stock. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, January 2nd. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Tuesday, September 26th. Citigroup raised their price objective on shares of PACCAR from $78.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, October 13th. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Finally, BMO Capital Markets reissued a “buy” rating and set a $85.00 price objective on shares of PACCAR in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.32.
PACCAR (PCAR) opened at $76.40 on Friday. PACCAR has a fifty-two week low of $61.93 and a fifty-two week high of $76.60. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40. The company has a market cap of $26,571.18, a PE ratio of 19.59, a PEG ratio of 1.61 and a beta of 1.22.
The firm also recently declared a special dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were issued a $1.20 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, December 13th. PACCAR’s dividend payout ratio (DPR) is presently 25.64%.
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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the sale, the insider now directly owns 2,985,401 shares of the company’s stock, valued at $213,068,069.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,598 shares of company stock valued at $7,597,908. Company insiders own 2.64% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Koch Industries Inc. acquired a new position in shares of PACCAR in the 2nd quarter valued at about $213,000. BlueMountain Capital Management LLC acquired a new position in shares of PACCAR in the 2nd quarter valued at about $2,771,000. BlueCrest Capital Management Ltd acquired a new position in shares of PACCAR in the 2nd quarter valued at about $2,395,000. Shell Asset Management Co. boosted its holdings in shares of PACCAR by 237.7% in the 3rd quarter. Shell Asset Management Co. now owns 74,902 shares of the company’s stock valued at $4,260,000 after buying an additional 52,722 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of PACCAR by 18.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 59,664 shares of the company’s stock valued at $4,316,000 after buying an additional 9,219 shares during the period. 62.26% of the stock is owned by institutional investors and hedge funds.
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PACCAR Company Profile
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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