McIlrath & Eck LLC Buys 3,877 Shares of PACCAR Inc. $PCAR

Key Points

• McIlrath & Eck LLC increased its stock position in PACCAR Inc. by 15.3%, now holding 29,223 shares worth approximately $2.85 million.
• Several institutional investors made significant changes to their stakes in PACCAR, with Pacer Advisors Inc. increasing their position by a staggering 2,957.4%.
• Analysts have mixed views on PACCAR, with ratings ranging from Strong Buy to Hold, and a consensus target price currently around $107.68.

McIlrath & Eck LLC boosted its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 15.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,223 shares of the company's stock after purchasing an additional 3,877 shares during the quarter. McIlrath & Eck LLC's holdings in PACCAR were worth $2,845,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock valued at $6,133,914,000 after buying an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP lifted its stake in PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after buying an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in PACCAR by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after buying an additional 987,805 shares in the last quarter. Northern Trust Corp lifted its stake in PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock valued at $704,956,000 after buying an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in PACCAR by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock valued at $594,277,000 after buying an additional 97,197 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial dropped their price target on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a report on Monday, July 28th. Finally, Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of "Moderate Buy" and an average target price of $107.68.

PACCAR Stock Performance

Shares of PCAR stock traded up $0.75 on Friday, hitting $102.51. The company's stock had a trading volume of 3,812,113 shares, compared to its average volume of 1,994,338. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The stock's 50 day moving average is $98.48 and its 200-day moving average is $96.16. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a market capitalization of $53.83 billion, a PE ratio of 17.55, a PEG ratio of 4.09 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the prior year, the company posted $2.13 earnings per share. PACCAR's revenue was down 15.7% compared to the same quarter last year. Equities research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal 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 annualized dividend and a yield of 1.3%. PACCAR's dividend payout ratio is currently 22.60%.

Insider Activity

In related news, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were 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 $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

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.