Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Position in PACCAR Inc (NASDAQ:PCAR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,500 shares of the company’s stock after buying an additional 176 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in PACCAR were worth $988,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PCAR. Creative Planning grew its stake in PACCAR by 7.5% during the 2nd quarter. Creative Planning now owns 72,752 shares of the company’s stock worth $7,489,000 after buying an additional 5,073 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of PACCAR by 8.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 44,808 shares of the company’s stock valued at $4,613,000 after purchasing an additional 3,622 shares during the last quarter. Quarry LP purchased a new position in shares of PACCAR in the 2nd quarter valued at approximately $26,000. Sanctuary Advisors LLC purchased a new position in shares of PACCAR in the 2nd quarter valued at approximately $2,703,000. Finally, Heritage Wealth Management Inc. purchased a new position in shares of PACCAR in the 2nd quarter valued at approximately $344,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Citigroup decreased their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price target on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $121.23.

PACCAR Stock Performance

Shares of PCAR stock opened at $107.25 on Wednesday. The stock has a fifty day moving average price of $110.51 and a 200 day moving average price of $104.42. The stock has a market cap of $56.23 billion, a PE ratio of 11.98, a P/E/G ratio of 2.77 and a beta of 0.93. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%. Sell-side analysts forecast that PACCAR Inc will post 7.93 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 13.41%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.