PACCAR Inc (NASDAQ:PCAR) Shares Sold by Empirical Finance LLC

Empirical Finance LLC trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,625 shares of the company’s stock after selling 1,130 shares during the quarter. Empirical Finance LLC’s holdings in PACCAR were worth $1,814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of PACCAR by 32.2% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 708,737 shares of the company’s stock worth $72,957,000 after acquiring an additional 172,771 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of PACCAR by 52.0% during the second quarter. Crossmark Global Holdings Inc. now owns 44,255 shares of the company’s stock worth $4,555,000 after acquiring an additional 15,137 shares during the period. Principal Financial Group Inc. increased its stake in shares of PACCAR by 1.5% during the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after acquiring an additional 48,784 shares during the period. TrueMark Investments LLC acquired a new position in shares of PACCAR during the second quarter worth about $264,000. Finally, HB Wealth Management LLC increased its stake in shares of PACCAR by 31.1% during the second quarter. HB Wealth Management LLC now owns 30,468 shares of the company’s stock worth $3,136,000 after acquiring an additional 7,229 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR opened at $96.18 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The company has a market capitalization of $50.41 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.47 and a beta of 0.92. The company’s 50 day simple moving average is $99.29 and its 200 day simple moving average is $107.73. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 EPS. On average, sell-side analysts predict that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 15th. PACCAR’s payout ratio is 12.45%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial lowered their target price on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Raymond James assumed coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Citigroup lowered their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $112.73.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

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.