20,744 PACCAR Inc. $PCAR Shares Bought by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its PACCAR stake by 3.6% in the third quarter, buying 20,744 shares to reach 590,363 shares valued at approximately $64.8 million. Institutional investors collectively own 64.9% of PACCAR.
• PACCAR reported quarterly earnings of $1.61 per share, in line with estimates, while revenue of $8.50 billion exceeded expectations and rose 20.8% year over year.
• The company declared a quarterly dividend of $0.35 per share, equivalent to an annualized $1.40 dividend and a 1.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $132.96.

ProShare Advisors LLC increased its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 3.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 590,363 shares of the company's stock after buying an additional 20,744 shares during the quarter. ProShare Advisors LLC owned about 0.11% of PACCAR worth $64,828,000 as of its most recent filing with the SEC.

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

PACCAR Stock Performance

Shares of PACCAR stock opened at $101.91 on Monday. The firm has a market cap of $53.66 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.31 and a beta of 0.96. The firm's 50-day simple moving average is $114.82 and its 200-day simple moving average is $120.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.98 and a current ratio of 3.22. PACCAR Inc. has a 1 year low of $93.86 and a 1 year high of $139.24.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $1.61 EPS for the quarter, hitting analysts' consensus estimates of $1.61. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $7.48 billion. PACCAR had a return on equity of 13.76% and a net margin of 9.50%. The company's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. Equities analysts forecast that PACCAR Inc. will post 5.84 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR's dividend payout ratio (DPR) is currently 26.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of PACCAR in a research report on Tuesday, August 18th. Jefferies Financial Group raised their price target on shares of PACCAR from $120.00 to $140.00 and gave the company a "hold" rating in a report on Wednesday, July 29th. BNP Paribas Exane dropped their price target on shares of PACCAR from $136.00 to $107.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 6th. Evercore boosted their price objective on shares of PACCAR from $139.00 to $162.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. Finally, Morgan Stanley set a $125.00 price objective on shares of PACCAR and gave the stock an "equal weight" rating in a report on Friday, September 4th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of "Hold" and an average target price 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.

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