Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Stock Holdings in PACCAR Inc. $PCAR

Key Points

• Empirical Financial Services LLC increased its holdings in PACCAR Inc. by 58.6% in Q2, now owning 13,344 shares valued at approximately $1.27 million.
• PACCAR reported a quarterly earnings per share of $1.37, surpassing estimates, despite experiencing a 15.7% revenue decline year-over-year.
• The company announced a quarterly dividend of $0.33 per share, scheduled for payment on December 3rd, with a yield of 1.3% and a payout ratio of 22.60%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 58.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,344 shares of the company's stock after buying an additional 4,928 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in PACCAR were worth $1,268,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its position in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after buying an additional 240 shares during the period. Alpine Bank Wealth Management purchased a new stake in shares of PACCAR during the first quarter worth about $29,000. Bayforest Capital Ltd boosted its holdings in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after purchasing an additional 274 shares during the period. Accent Capital Management LLC purchased a new stake in shares of PACCAR during the first quarter worth about $40,000. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after purchasing an additional 174 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR opened at $98.09 on Friday. The company has a market capitalization of $51.51 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 3.98 and a beta of 0.94. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $99.03 and a 200 day moving average of $95.62. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The firm's quarterly revenue was down 15.7% compared to the same quarter last year. As a group, equities research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's dividend payout ratio is presently 22.60%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PCAR has been the subject of a number of analyst reports. Evercore ISI set a $114.00 target price on shares of PACCAR and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Citigroup increased their target price on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $107.68.

PACCAR Company 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.

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