Empowered Funds LLC Cuts Holdings in PACCAR Inc (NASDAQ:PCAR)

Empowered Funds LLC reduced its position in PACCAR Inc (NASDAQ:PCAR) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,505 shares of the company’s stock after selling 7,265 shares during the period. Empowered Funds LLC’s holdings in PACCAR were worth $18,404,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PCAR. New Covenant Trust Company N.A. acquired a new stake in PACCAR during the first quarter worth approximately $27,000. Quarry LP acquired a new position in PACCAR in the 2nd quarter worth $26,000. Meeder Asset Management Inc. increased its holdings in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR in the 2nd quarter worth about $36,000. Finally, Fortitude Family Office LLC boosted its stake in PACCAR by 200.0% in the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after acquiring an additional 244 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley decreased their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Finally, StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $116.55.

PACCAR Stock Performance

Shares of PCAR stock opened at $114.52 on Friday. The stock has a market cap of $60.04 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The stock has a 50-day moving average of $103.20 and a 200-day moving average of $102.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

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

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. PACCAR’s dividend payout ratio is 13.41%.

Insider Buying and Selling at PACCAR

In other news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 over the last ninety days. Insiders own 2.02% of the company’s stock.

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.