Eliot Finkel Investment Counsel LLC Sells 5,097 Shares of PACCAR Inc (NASDAQ:PCAR)

Eliot Finkel Investment Counsel LLC cut its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,824 shares of the company's stock after selling 5,097 shares during the period. PACCAR comprises approximately 4.5% of Eliot Finkel Investment Counsel LLC's portfolio, making the stock its 6th largest position. Eliot Finkel Investment Counsel LLC's holdings in PACCAR were worth $7,055,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new position in shares of PACCAR in the 4th quarter valued at $37,000. Kestra Investment Management LLC purchased a new position in PACCAR during the 4th quarter worth $37,000. Regents Gate Capital LLP acquired a new position in PACCAR in the fourth quarter valued at $44,000. Ashton Thomas Securities LLC acquired a new position in PACCAR in the third quarter valued at $52,000. Finally, AdvisorNet Financial Inc raised its holdings in shares of PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock valued at $59,000 after buying an additional 391 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Price Performance

PCAR stock traded up $1.49 on Wednesday, reaching $102.97. The company had a trading volume of 2,327,575 shares, compared to its average volume of 2,487,039. The company's fifty day moving average is $107.17 and its 200 day moving average is $105.93. The company has a market cap of $54.04 billion, a P/E ratio of 13.02, a PEG ratio of 2.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is 16.69%.

Wall Street Analyst Weigh In

PCAR has been the subject of several analyst reports. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price on PACCAR from $125.00 to $132.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Truist Financial lifted their price target on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, Citigroup cut their price objective on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $121.77.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company's stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is currently owned by corporate 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.