Empirical Finance LLC Boosts Position in PACCAR Inc (NASDAQ:PCAR)

Empirical Finance LLC lifted its position in PACCAR Inc (NASDAQ:PCAR) by 2.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 17,996 shares of the company’s stock after purchasing an additional 371 shares during the period. Empirical Finance LLC’s holdings in PACCAR were worth $1,776,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. CIBC Asset Management Inc lifted its stake in PACCAR by 5.7% in the 3rd quarter. CIBC Asset Management Inc now owns 162,583 shares of the company’s stock worth $16,044,000 after purchasing an additional 8,834 shares in the last quarter. Intellectus Partners LLC increased its holdings in shares of PACCAR by 5.1% in the third quarter. Intellectus Partners LLC now owns 10,723 shares of the company’s stock worth $1,058,000 after purchasing an additional 522 shares during the period. Omnia Family Wealth LLC raised its position in shares of PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after buying an additional 98 shares in the last quarter. Lifeworks Advisors LLC boosted its stake in PACCAR by 18.3% during the third quarter. Lifeworks Advisors LLC now owns 41,657 shares of the company’s stock valued at $4,111,000 after buying an additional 6,439 shares during the period. Finally, Metis Global Partners LLC grew its position in PACCAR by 1.8% during the third quarter. Metis Global Partners LLC now owns 16,751 shares of the company’s stock worth $1,653,000 after buying an additional 300 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Activity

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the transaction, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. The trade was a 58.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PCAR. Truist Financial raised their price target on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PACCAR has an average rating of “Hold” and an average price target of $116.55.

PACCAR Trading Down 2.4 %

NASDAQ PCAR opened at $112.26 on Friday. The firm has a market cap of $58.86 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The stock has a 50-day moving average of $104.03 and a 200-day moving average of $102.82. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

About PACCAR

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.