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

McIlrath & Eck LLC trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 9.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 25,346 shares of the company’s stock after selling 2,718 shares during the quarter. McIlrath & Eck LLC’s holdings in PACCAR were worth $2,636,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PCAR. Cullen Frost Bankers Inc. raised its holdings in PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after purchasing an additional 6,494 shares in the last quarter. LPL Financial LLC raised its stake in PACCAR by 6.1% in the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after buying an additional 12,143 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in PACCAR by 508.2% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 89,865 shares of the company’s stock worth $9,348,000 after buying an additional 75,090 shares during the period. American Century Companies Inc. lifted its holdings in PACCAR by 15.8% in the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock worth $65,675,000 after buying an additional 86,215 shares during the period. Finally, GHP Investment Advisors Inc. boosted its position in PACCAR by 7.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 61,741 shares of the company’s stock valued at $6,422,000 after acquiring an additional 4,390 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Down 0.5%

Shares of NASDAQ PCAR opened at $96.50 on Wednesday. The firm’s 50 day moving average price is $93.19 and its 200-day moving average price is $103.76. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a market cap of $50.66 billion, a PE ratio of 12.20, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period last year, the company posted $2.27 earnings per share. The business’s revenue was down 16.0% compared to the same quarter last year. On average, equities research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Wednesday, May 14th. PACCAR’s payout ratio is currently 20.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. Evercore ISI decreased their price objective on PACCAR from $127.00 to $115.00 and set an “outperform” rating for the company in a report on Monday. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Truist Financial reduced their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $104.14.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.02% of the stock is currently owned by insiders.

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.