Empowered Funds LLC Purchases Shares of 97,981 PACCAR Inc. $PCAR

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

A number of other institutional investors have also recently bought and sold shares of the stock. Paladin Partners LLC purchased a new stake in PACCAR during the second quarter valued at about $27,000. MCF Advisors LLC increased its position in shares of PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares in the last quarter. Fiduciary Financial Advisors purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $28,000. Compass Financial Management LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $28,000. Finally, Steph & Co. acquired a new position in PACCAR in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 0.9%

PCAR stock opened at $125.34 on Friday. The company has a 50 day moving average of $127.35 and a two-hundred day moving average of $121.93. The company has a market cap of $65.97 billion, a price-to-earnings ratio of 26.33, a PEG 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. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the company posted $1.37 EPS. PACCAR’s revenue was up .5% on a year-over-year basis. On average, equities analysts anticipate that PACCAR Inc. will post 5.89 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have issued reports on PCAR. Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. Wells Fargo & Company raised their target price on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Finally, Truist Financial raised their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $131.70.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the transaction, the chief financial officer owned 1,391 shares in the company, valued at $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by company insiders.

PACCAR Company 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.