13,334 PACCAR Inc. $PCAR Shares Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 10.5% in the 3rd quarter, Holdings Channel reports. The fund owned 140,132 shares of the company’s stock after acquiring an additional 13,334 shares during the period. Rakuten Investment Management Inc.’s holdings in PACCAR were worth $15,667,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Provenance Wealth Advisors LLC raised its stake in PACCAR by 141.9% during the third quarter. Provenance Wealth Advisors LLC now owns 537 shares of the company’s stock valued at $59,000 after buying an additional 315 shares in the last quarter. Summa Corp. bought a new position in PACCAR during the 3rd quarter worth approximately $240,000. One Way Holdings LLC grew its position in shares of PACCAR by 10.7% in the 3rd quarter. One Way Holdings LLC now owns 4,523 shares of the company’s stock worth $497,000 after acquiring an additional 438 shares in the last quarter. Welch Group LLC grew its position in shares of PACCAR by 7.6% in the 3rd quarter. Welch Group LLC now owns 2,040 shares of the company’s stock worth $224,000 after acquiring an additional 144 shares in the last quarter. Finally, Columbia Bank increased its holdings in shares of PACCAR by 1.1% in the 3rd quarter. Columbia Bank now owns 14,571 shares of the company’s stock valued at $1,600,000 after acquiring an additional 159 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Up 4.0%

NASDAQ PCAR opened at $106.16 on Thursday. PACCAR Inc. has a 12 month low of $93.86 and a 12 month high of $139.24. The company has a market capitalization of $55.89 billion, a P/E ratio of 20.22, a PEG ratio of 1.31 and a beta of 0.96. The company’s 50 day simple moving average is $113.23 and its 200 day simple moving average is $119.90. 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 posted its quarterly earnings results on Tuesday, October 27th. The company reported $1.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.61. The firm had revenue of $8.50 billion for 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%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 earnings per share. Equities research analysts expect that PACCAR Inc. will post 5.84 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 11th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, November 10th. PACCAR’s payout ratio is presently 26.67%.

Analysts Set New Price Targets

Several research analysts have recently commented on PCAR shares. Freedom Broker raised shares of PACCAR from a “hold” rating to a “buy” rating and decreased their price target for the company from $132.00 to $120.00 in a report on Friday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $142.00 to $132.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Jefferies Financial Group increased their price target on PACCAR from $120.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Finally, BNP Paribas Exane dropped their price target on PACCAR from $136.00 to $107.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus target price of $131.96.

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.