PACCAR Inc. $PCAR Holdings Increased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,132 shares of the company’s stock after acquiring an additional 13,334 shares during the quarter. Rakuten Investment Management Inc.’s holdings in PACCAR were worth $15,667,000 at the end of the most recent quarter.

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

PACCAR Stock Performance

Shares of PCAR stock opened at $106.16 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.98 and a current ratio of 3.22. The firm has a market capitalization of $55.89 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.96. PACCAR Inc. has a one year low of $93.86 and a one year high of $139.24. The company has a 50 day moving average price of $113.23 and a 200 day moving average price of $119.90.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $1.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.61. PACCAR had a net margin of 9.50% and a return on equity of 13.76%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $7.48 billion. During the same period in the previous year, the company earned $1.12 EPS. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc. will post 5.84 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced 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 1.3%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR’s dividend payout ratio (DPR) is currently 26.67%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and set a $148.00 target price (up from $142.00) on shares of PACCAR in a research report on Wednesday, July 29th. Freedom Broker upgraded PACCAR from a “hold” rating to a “buy” rating and dropped their price target for the company from $132.00 to $120.00 in a research report on Friday, October 30th. JPMorgan Chase & Co. cut their price target on PACCAR from $142.00 to $132.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. Jefferies Financial Group lifted their price target on PACCAR from $120.00 to $140.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Finally, Evercore boosted their price objective on shares of PACCAR from $139.00 to $162.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $131.96.

PACCAR 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.