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

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in PACCAR Inc (NASDAQ:PCAR) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,580 shares of the company’s stock after purchasing 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.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in PACCAR during the 3rd quarter worth $26,000. AdvisorNet Financial Inc boosted its stake in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. NBC Securities Inc. acquired a new stake in PACCAR in the 3rd quarter valued at approximately $34,000. Bruce G. Allen Investments LLC bought a new position in PACCAR in the 4th quarter worth approximately $37,000. Finally, ORG Partners LLC boosted its position in shares of PACCAR by 6,200.0% in the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after acquiring an additional 372 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded up $0.63 during trading on Wednesday, reaching $107.23. The stock had a trading volume of 867,185 shares, compared to its average volume of 2,439,456. The stock has a market capitalization of $56.20 billion, a PE ratio of 11.06, a P/E/G ratio of 1.63 and a beta of 0.96. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50. The business’s 50-day moving average price is $116.18 and its 200 day moving average price is $103.12. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.25 earnings per share. As a group, equities analysts predict that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is currently 11.20%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,920 shares of company stock valued at $4,650,324. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. TD Cowen boosted their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Royal Bank of Canada initiated coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective on the stock. Finally, UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently 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.