Empowered Funds LLC Sells 66,893 Shares of PACCAR Inc. $PCAR

Key Points

• Empowered Funds LLC significantly reduced its stake in PACCAR Inc. by 59.5%, dropping to 45,481 shares valued at approximately $4.43 million, according to a recent SEC filing.
• PACCAR's CEO R. Preston Feight sold nearly 40,000 shares, resulting in a 15.19% decrease in his holdings, while the CFO sold 5,000 shares, decreasing his position by over 91%.
• PACCAR will pay a quarterly dividend of $0.33 per share on December 3rd, reflecting a 1.3% yield, and has recently had upgrades in stock ratings from various analysts.

Empowered Funds LLC cut its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 59.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 45,481 shares of the company's stock after selling 66,893 shares during the quarter. Empowered Funds LLC's holdings in PACCAR were worth $4,428,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of PACCAR by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after acquiring an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of PACCAR by 20.1% during the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after acquiring an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after acquiring an additional 987,805 shares in the last quarter. Northern Trust Corp boosted its stake in shares of PACCAR by 0.5% during the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock worth $704,956,000 after acquiring an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of PACCAR by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock worth $594,277,000 after acquiring an additional 97,197 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Up 0.7%

PCAR traded up $0.75 during trading on Friday, reaching $102.51. 3,812,113 shares of the stock traded hands, compared to its average volume of 2,093,391. The stock has a market cap of $53.83 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 4.12 and a beta of 0.94. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The stock's 50-day simple moving average is $98.48 and its two-hundred day simple moving average is $96.09.

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

PACCAR Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Evercore ISI set a $114.00 price objective on PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Vertical Research raised PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and lifted their price target for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Finally, Truist Financial lowered their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.68.

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.