PACCAR Inc (NASDAQ:PCAR) Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 39.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,374 shares of the company’s stock after selling 74,131 shares during the period. Empowered Funds LLC’s holdings in PACCAR were worth $11,689,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new stake in PACCAR during the fourth quarter valued at approximately $1,984,000. Sanctuary Advisors LLC lifted its position in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. lifted its position in shares of PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after acquiring an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC lifted its position in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after acquiring an additional 89,245 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR opened at $106.02 on Friday. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company’s fifty day moving average is $109.49 and its 200-day moving average is $104.55. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm has a market cap of $55.59 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts expect that PACCAR Inc will post 7.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 15.17%.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Truist Financial upped their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley dropped their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

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.