Empirical Finance LLC Grows Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Empirical Finance LLC raised its stake in PACCAR Inc (NASDAQ:PCAR) by 29.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,266 shares of the company’s stock after buying an additional 5,270 shares during the quarter. Empirical Finance LLC’s holdings in PACCAR were worth $2,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CVA Family Office LLC boosted its position in shares of PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after buying an additional 97 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of PACCAR by 130.5% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 669,058 shares of the company’s stock valued at $66,023,000 after purchasing an additional 378,810 shares in the last quarter. Delta Capital Management LLC acquired a new stake in shares of PACCAR in the third quarter valued at approximately $3,712,000. Polianta Ltd purchased a new position in shares of PACCAR during the 3rd quarter worth approximately $1,154,000. Finally, Grove Bank & Trust raised its position in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 1.5 %

PCAR stock opened at $106.02 on Monday. 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 company has a market cap of $55.59 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.79 and a beta of 0.92. The business has a fifty day simple moving average of $109.49 and a 200-day simple moving average of $104.60. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly 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%. On average, equities research analysts expect that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 15.17%.

Insider Activity at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,871 shares of company stock worth $14,586,333. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Truist Financial increased their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Citigroup lowered their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.95.

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.