Empowered Funds LLC Increases Stake in PACCAR Inc. $PCAR

Empowered Funds LLC increased its stake in PACCAR Inc. (NASDAQ:PCAR) by 64.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,849 shares of the company’s stock after acquiring an additional 29,368 shares during the period. Empowered Funds LLC’s holdings in PACCAR were worth $7,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after purchasing an additional 3,379,165 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of PACCAR by 2,957.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company’s stock worth $205,469,000 after buying an additional 2,041,168 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in PACCAR by 177.9% in the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock valued at $255,187,000 after acquiring an additional 1,677,736 shares during the last quarter. Jones Financial Companies Lllp grew its position in PACCAR by 16,393.9% during the first quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company’s stock valued at $139,402,000 after acquiring an additional 1,422,992 shares during the period. Finally, Nuveen LLC acquired a new stake in PACCAR during the first quarter worth about $125,566,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Vertical Research upgraded shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Jefferies Financial Group reissued a “hold” rating and issued a $90.00 target price on shares of PACCAR in a research note on Tuesday, October 21st. Finally, Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $106.54.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the sale, the chief financial officer directly owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Down 0.5%

Shares of NASDAQ:PCAR opened at $96.49 on Thursday. The company has a market capitalization of $50.68 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The company has a 50 day moving average of $98.08 and a two-hundred day moving average of $96.81. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. As a group, analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio is presently 25.83%.

PACCAR Company 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.