PACCAR Inc. $PCAR Stock Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 590,363 shares of the company’s stock after purchasing an additional 20,744 shares during the period. ProShare Advisors LLC’s holdings in PACCAR were worth $64,828,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of PACCAR during the 2nd quarter valued at about $4,927,720,000. Bank of America Corp DE acquired a new stake in PACCAR during the second quarter worth about $1,130,496,000. Bank of New York Mellon Corp acquired a new stake in PACCAR during the second quarter worth about $453,107,000. Legal & General Group Plc acquired a new stake in PACCAR during the second quarter worth about $335,776,000. Finally, Deutsche Bank AG bought a new position in PACCAR in the second quarter worth about $239,460,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

Shares of PACCAR stock opened at $101.91 on Monday. The company has a market capitalization of $53.66 billion, a P/E ratio of 19.41, a PEG ratio of 1.31 and a beta of 0.96. The business’s fifty day moving average price is $114.82 and its two-hundred day moving average price is $120.15. PACCAR Inc. has a 1-year low of $93.86 and a 1-year high of $139.24. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.22 and a quick ratio of 2.98.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 27th. The company reported $1.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.61. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $7.48 billion. PACCAR had a net margin of 9.50% and a return on equity of 13.76%. PACCAR’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. As a group, research analysts forecast that PACCAR Inc. will post 5.84 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR’s dividend payout ratio is currently 26.67%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company set a $122.00 target price on PACCAR and gave the company an “equal weight” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. dropped their price target on PACCAR from $142.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Evercore raised their price target on PACCAR from $139.00 to $162.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. Morgan Stanley set a $125.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research note on Friday, September 4th. Finally, Truist Financial lowered their price objective on PACCAR from $125.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, October 28th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $132.96.

PACCAR Company Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.