ProShare Advisors LLC Acquires 107,073 Shares of PACCAR Inc (NASDAQ:PCAR)

ProShare Advisors LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 670,650 shares of the company's stock after buying an additional 107,073 shares during the quarter. ProShare Advisors LLC owned about 0.13% of PACCAR worth $69,761,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP lifted its stake in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after buying an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after purchasing an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after purchasing an additional 572,231 shares in the last quarter. FMR LLC lifted its position in shares of PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock worth $914,509,000 after purchasing an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock worth $749,189,000 after purchasing an additional 565,967 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of PCAR stock traded up $0.30 on Monday, hitting $97.01. The company's stock had a trading volume of 2,191,164 shares, compared to its average volume of 2,778,168. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock's 50 day moving average is $93.34 and its 200-day moving average is $103.86. PACCAR Inc has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a market capitalization of $50.93 billion, a PE ratio of 12.26, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the company posted $2.27 earnings per share. The company's revenue was down 16.0% on a year-over-year basis. Equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. PACCAR's dividend payout ratio (DPR) is currently 20.00%.

Insider Activity

In other news, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares of the company's stock, valued at $100,929.63. This represents a 86.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at $12,150,414.23. This represents a 20.01% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PCAR. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Truist Financial lowered their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Citigroup lowered their target price on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of "Hold" and an average price target of $104.14.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.