McIlrath & Eck LLC Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

McIlrath & Eck LLC boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 16.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,064 shares of the company’s stock after purchasing an additional 3,878 shares during the quarter. McIlrath & Eck LLC’s holdings in PACCAR were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in PACCAR by 8.2% during the second quarter. Sequoia Financial Advisors LLC now owns 6,424 shares of the company’s stock worth $661,000 after purchasing an additional 486 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in PACCAR by 16.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 25,915 shares of the company’s stock worth $2,668,000 after buying an additional 3,728 shares during the last quarter. ORG Partners LLC lifted its position in PACCAR by 7,560.0% in the 2nd quarter. ORG Partners LLC now owns 383 shares of the company’s stock worth $39,000 after buying an additional 378 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in PACCAR by 28.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after buying an additional 5,437 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft grew its position in PACCAR by 29.5% during the second quarter. Baader Bank Aktiengesellschaft now owns 8,835 shares of the company’s stock valued at $906,000 after acquiring an additional 2,015 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last three months. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PCAR. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Truist Financial raised their price target on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $118.25.

PACCAR Price Performance

Shares of PCAR stock opened at $115.37 on Wednesday. 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 Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm has a market cap of $60.49 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.82 and a beta of 0.91. The business’s 50 day moving average price is $109.82 and its 200-day moving average price is $103.70.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

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.