Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 1,170 Shares of PACCAR Inc (NASDAQ:PCAR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,580 shares of the company’s stock after acquiring an additional 1,170 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in PACCAR were worth $935,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PCAR. Apollon Wealth Management LLC increased its stake in shares of PACCAR by 30.7% in the 4th quarter. Apollon Wealth Management LLC now owns 16,037 shares of the company’s stock valued at $1,566,000 after acquiring an additional 3,763 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in PACCAR by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 39,899 shares of the company’s stock valued at $3,896,000 after purchasing an additional 747 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of PACCAR by 17.7% during the fourth quarter. Private Advisor Group LLC now owns 21,433 shares of the company’s stock valued at $2,093,000 after purchasing an additional 3,224 shares during the period. Summit Trail Advisors LLC boosted its position in shares of PACCAR by 4.5% during the 4th quarter. Summit Trail Advisors LLC now owns 3,078 shares of the company’s stock worth $309,000 after purchasing an additional 133 shares in the last quarter. Finally, Spire Wealth Management boosted its position in shares of PACCAR by 18.9% during the 4th quarter. Spire Wealth Management now owns 68,479 shares of the company’s stock worth $6,592,000 after purchasing an additional 10,869 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Insiders sold 43,920 shares of company stock worth $4,650,324 in the last quarter. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

NASDAQ:PCAR traded up $0.63 during trading hours on Wednesday, hitting $107.23. 867,185 shares of the company’s stock traded hands, compared to its average volume of 2,439,456. The firm has a market cap of $56.20 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.63 and a beta of 0.96. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $116.18 and its two-hundred day simple moving average is $103.12. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. PACCAR’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.25 earnings per share. On average, research analysts anticipate that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. PACCAR’s dividend payout ratio is 11.20%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PCAR shares. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. cut their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Evercore ISI upped their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Truist Financial reiterated a “hold” rating and set a $121.00 price objective (up from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group upped their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR 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.