McIlrath & Eck LLC lessened its position in shares of PACCAR Inc (NASDAQ:PCAR) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,367 shares of the company’s stock after selling 733 shares during the quarter. PACCAR accounts for 0.3% of McIlrath & Eck LLC’s portfolio, making the stock its 20th biggest holding. McIlrath & Eck LLC’s holdings in PACCAR were worth $516,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of PCAR. Destination Wealth Management purchased a new stake in PACCAR in the second quarter worth about $25,000. Virtus ETF Advisers LLC purchased a new stake in PACCAR in the second quarter worth about $26,000. Advisory Services Network LLC increased its position in PACCAR by 149.4% in the second quarter. Advisory Services Network LLC now owns 434 shares of the company’s stock worth $31,000 after buying an additional 260 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new stake in PACCAR in the third quarter worth about $34,000. Finally, Enterprise Financial Services Corp increased its position in PACCAR by 76.8% in the second quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock worth $35,000 after buying an additional 212 shares in the last quarter. Institutional investors own 63.42% of the company’s stock.
In related news, VP T. Kyle Quinn sold 29,840 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $77.56, for a total transaction of $2,314,390.40. Following the completion of the sale, the vice president now directly owns 30,946 shares of the company’s stock, valued at approximately $2,400,171.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Darrin C. Siver sold 12,474 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $77.01, for a total value of $960,622.74. Following the sale, the senior vice president now directly owns 30,600 shares of the company’s stock, valued at $2,356,506. The disclosure for this sale can be found here. Insiders have sold a total of 106,949 shares of company stock valued at $8,207,798 over the last three months. 2.32% of the stock is owned by corporate insiders.
Shares of NASDAQ:PCAR traded up $0.20 during trading on Friday, hitting $80.07. 1,099,800 shares of the company’s stock were exchanged, compared to its average volume of 1,830,361. PACCAR Inc has a 52-week low of $53.43 and a 52-week high of $80.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.39 and a quick ratio of 2.23. The company has a market cap of $27.56 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.68 and a beta of 1.25. The business’s 50-day simple moving average is $72.20 and its 200 day simple moving average is $69.73.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.11. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same period last year, the company earned $1.55 EPS. PACCAR’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that PACCAR Inc will post 6.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, November 8th. PACCAR’s dividend payout ratio is currently 20.51%.
A number of brokerages have commented on PCAR. Wells Fargo & Co upped their price target on PACCAR from $72.00 to $75.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 23rd. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. ValuEngine cut PACCAR from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. OTR Global cut PACCAR from a “mixed” rating to a “negative” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price target on PACCAR from $70.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $71.64.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
Further Reading: How is Preferred Stock Different from Common Stock?
Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc (NASDAQ:PCAR).
Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.