Empirical Finance LLC Has $1.78 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Empirical Finance LLC increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Kingsview Wealth Management LLC lifted its position in shares of PACCAR by 13.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 3,641 shares of the company’s stock valued at $451,000 after acquiring an additional 418 shares during the period. First Foundation Advisors boosted its position in shares of PACCAR by 3.2% during the 1st quarter. First Foundation Advisors now owns 6,652 shares of the company’s stock worth $824,000 after purchasing an additional 204 shares in the last quarter. TIAA Trust National Association acquired a new stake in shares of PACCAR in the 1st quarter valued at about $312,000. Edgestream Partners L.P. increased its position in PACCAR by 38.1% in the 1st quarter. Edgestream Partners L.P. now owns 7,520 shares of the company’s stock valued at $932,000 after buying an additional 2,074 shares in the last quarter. Finally, Covestor Ltd increased its position in PACCAR by 17.5% in the 1st quarter. Covestor Ltd now owns 844 shares of the company’s stock valued at $105,000 after buying an additional 126 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PCAR. Citigroup raised their price objective on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $99.00 to $129.00 in a report on Wednesday. Morgan Stanley lowered their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $116.55.

Insider Buying and Selling at PACCAR

In other news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade 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. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Down 2.4 %

Shares of PACCAR stock opened at $112.26 on Friday. The firm has a market cap of $58.86 billion, a PE ratio of 12.54, a P/E/G 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 company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The stock has a fifty day moving average price of $104.03 and a 200-day moving average price of $102.82.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.34 earnings per share. Equities research analysts anticipate 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. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.07%. 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.