PACCAR Inc (NASDAQ:PCAR) is Eliot Finkel Investment Counsel LLC’s 10th Largest Position

Eliot Finkel Investment Counsel LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 72,921 shares of the company’s stock after selling 120 shares during the period. PACCAR makes up 4.4% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 10th biggest holding. Eliot Finkel Investment Counsel LLC’s holdings in PACCAR were worth $7,196,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Quarry LP acquired a new stake in PACCAR in the 2nd quarter worth approximately $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR during the first quarter worth $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR during the first quarter valued at $29,000. Meeder Asset Management Inc. increased its position in shares of 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 acquiring an additional 205 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in PACCAR in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $110.09 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The stock has a 50-day moving average of $98.19 and a 200 day moving average of $103.85. The stock has a market capitalization of $57.71 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.68 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business earned $2.33 EPS. Sell-side analysts anticipate that PACCAR Inc will post 8.06 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is presently 12.71%.

Wall Street Analyst Weigh In

PCAR has been the topic of several research analyst reports. Truist Financial dropped their price target on PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Raymond James initiated coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup raised their target price on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $114.00.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is currently owned by insiders.

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.