Eliot Finkel Investment Counsel LLC Has $7.20 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Eliot Finkel Investment Counsel LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,921 shares of the company’s stock after selling 120 shares during the period. PACCAR makes up about 4.4% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 10th largest position. Eliot Finkel Investment Counsel LLC’s holdings in PACCAR were worth $7,196,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new stake in shares of PACCAR during the 1st quarter valued at about $27,000. Riverview Trust Co purchased a new stake in PACCAR during the first quarter valued at approximately $29,000. Quarry LP bought a new stake in shares of PACCAR in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its holdings in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 2.4 %

Shares of PACCAR stock opened at $110.09 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The stock has a market cap of $57.71 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.68 and a beta of 0.91. The firm’s 50-day moving average is $98.19 and its two-hundred day moving average is $103.85. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.33 earnings per share. As a group, research analysts expect that PACCAR Inc will post 8.06 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Raymond James initiated coverage on PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Citigroup boosted their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $114.00.

About PACCAR

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.