McIlrath & Eck LLC Acquires 3,878 Shares of PACCAR Inc (NASDAQ:PCAR)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCAR. Quarry LP purchased a new position in shares of PACCAR during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. raised its position in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in PACCAR during the 2nd quarter valued at $36,000. ORG Partners LLC boosted its holdings in PACCAR by 7,560.0% during the 2nd quarter. ORG Partners LLC now owns 383 shares of the company’s stock worth $39,000 after acquiring an additional 378 shares during the last quarter. Finally, Grove Bank & Trust grew its stake in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PCAR shares. Truist Financial raised their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Citigroup increased their price target on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Morgan Stanley cut their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $118.25.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the transaction, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR opened at $115.37 on Wednesday. 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 current ratio of 1.25 and a quick ratio of 1.03. The stock’s fifty day moving average price is $109.82 and its two-hundred day moving average price is $103.70. The firm has a market cap of $60.49 billion, a PE ratio of 12.89, a PEG ratio of 1.82 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 EPS. On average, equities research analysts forecast that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

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.