97,981 Shares in PACCAR Inc. $PCAR Purchased by Empowered Funds LLC

Empowered Funds LLC acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 97,981 shares of the company’s stock, valued at approximately $11,769,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCAR. Ancora Advisors LLC bought a new stake in shares of PACCAR during the 2nd quarter valued at about $16,286,000. Nomura Asset Management Co. Ltd. lifted its holdings in PACCAR by 2.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after acquiring an additional 9,524 shares during the last quarter. Geode Capital Management LLC lifted its holdings in PACCAR by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after acquiring an additional 50,622 shares during the last quarter. Swiss Life Asset Management Ltd boosted its stake in PACCAR by 118.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock valued at $69,943,000 after acquiring an additional 345,937 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in shares of PACCAR during the first quarter valued at approximately $9,273,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent research reports. Morgan Stanley set a $119.00 price target on PACCAR in a report on Wednesday, July 29th. Truist Financial upped their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Citigroup increased their target price on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Wells Fargo & Company raised their target price on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $148.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $131.70.

Insider Activity at PACCAR

In related news, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

PACCAR Stock Down 0.9%

PCAR opened at $125.34 on Friday. The stock’s 50 day moving average price is $127.35 and its 200 day moving average price is $121.93. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The stock has a market cap of $65.97 billion, a P/E ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.97. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. As a group, research analysts predict that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.