Empowered Funds LLC Sells 74,131 Shares of PACCAR Inc (NASDAQ:PCAR)

Empowered Funds LLC trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 39.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 112,374 shares of the company’s stock after selling 74,131 shares during the quarter. Empowered Funds LLC’s holdings in PACCAR were worth $11,689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Wellington Management Group LLP lifted its holdings in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after acquiring an additional 1,164,692 shares during the period. Erste Asset Management GmbH bought a new position in shares of PACCAR during the 3rd quarter worth about $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after acquiring an additional 576,532 shares during the period. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of recent analyst reports. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.95.

PACCAR Trading Down 1.5 %

PCAR opened at $106.02 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $55.59 billion, a PE ratio of 13.40, a PEG ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a 50-day moving average price of $109.49 and a two-hundred day moving average price of $104.55.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts anticipate that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 15.17%.

Insider Buying and Selling

In related news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,871 shares of company stock valued at $14,586,333 over the last ninety days. Insiders own 2.02% of the company’s stock.

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.